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Morinaga & Co. fiscal Q3 profit climbs 84.9% YOY

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Morinaga & Co. fiscal Q3 profit climbs 84.9% YOY

Morinaga & Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥31.77 per share, a gain of 85.0% from ¥17.18 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.65 billion, an increase of 84.9% from ¥894.4 million in the year-earlier period.

The normalized profit margin climbed to 3.6% from 2.1% in the year-earlier period.

Total revenue grew 8.5% on an annual basis to ¥46.21 billion from ¥42.60 billion, and total operating expenses climbed 5.7% from the prior-year period to ¥43.60 billion from ¥41.24 billion.

Reported net income declined 74.7% from the prior-year period to ¥1.67 billion, or ¥32.08 per share, from ¥6.60 billion, or ¥126.78 per share.

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