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NHK Spring fiscal Q3 profit falls YOY

NHK Spring Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥29.33 per share, a decline of 13.7% from ¥33.98 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥7.39 billion, a decline of 10.4% from ¥8.25 billion in the year-earlier period.

The normalized profit margin fell to 4.8% from 5.8% in the year-earlier period.

Total revenue rose 7.7% year over year to ¥153.63 billion from ¥142.58 billion, and total operating expenses grew 10.2% on an annual basis to ¥144.83 billion from ¥131.41 billion.

Reported net income decreased 6.3% from the prior-year period to ¥8.38 billion, or ¥33.24 per share, from ¥8.94 billion, or ¥36.82 per share.

As of Feb. 6, US$1 was equivalent to ¥119.01.