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Furukawa Battery fiscal Q3 profit falls YOY

Furukawa Battery Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥17.36 per share, a decline of 7.6% from ¥18.79 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥569.1 million, a decrease of 7.6% from ¥616.1 million in the year-earlier period.

The normalized profit margin declined to 3.8% from 4.6% in the year-earlier period.

Total revenue increased 13.1% on an annual basis to ¥15.11 billion from ¥13.36 billion, and total operating expenses increased 14.4% year over year to ¥14.26 billion from ¥12.47 billion.

Reported net income declined 7.4% from the prior-year period to ¥651.0 million, or ¥19.86 per share, from ¥703.0 million, or ¥21.44 per share.

As of Feb. 13, US$1 was equivalent to ¥118.68.