Tsutsumi Jewelry Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥28.36 per share, a decline of 22.7% from ¥36.68 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥569.4 million, a decrease of 22.7% from ¥736.3 million in the year-earlier period.
The normalized profit margin fell to 8.6% from 10.8% in the year-earlier period.
Total revenue declined year over year to ¥6.64 billion from ¥6.81 billion, and total operating expenses grew from the prior-year period to ¥5.77 billion from ¥5.67 billion.
Reported net income decreased 34.2% on an annual basis to ¥563.0 million, or ¥28.05 per share, from ¥855.0 million, or ¥42.59 per share.
As of Feb. 9, US$1 was equivalent to ¥118.60.
