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Nissan Tokyo Sales fiscal Q3 profit falls YOY

Nissan Tokyo Sales Holdings Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥1.51 per share, a decrease of 82.6% from ¥8.68 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥100.3 million, a decrease of 82.6% from ¥577.6 million in the prior-year period.

The normalized profit margin dropped to 0.3% from 1.7% in the year-earlier period.

Total revenue declined 7.6% year over year to ¥31.89 billion from ¥34.50 billion, and total operating expenses fell 5.5% year over year to ¥31.61 billion from ¥33.45 billion.

Reported net income decreased 93.3% year over year to ¥44.0 million, or 66 sen per share, from ¥659.0 million, or ¥9.90 per share.

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