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Taisei fiscal Q3 profit climbs 74.6% YOY

Taisei Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, came to ¥161.54 per share, an increase of 78.4% from ¥90.57 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥37.00 billion, a gain of 74.6% from ¥21.19 billion in the year-earlier period.

The normalized profit margin rose to 9.9% from 5.5% in the year-earlier period.

Total revenue decreased year over year to ¥372.64 billion from ¥387.31 billion, and total operating expenses decreased 9.5% on an annual basis to ¥320.76 billion from ¥354.42 billion.

Reported net income grew 82.7% from the prior-year period to ¥41.44 billion, or ¥180.92 per share, from ¥22.68 billion, or ¥96.92 per share.

As of Feb. 9, US$1 was equivalent to ¥113.09.