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Sakai Ovex fiscal Q3 profit climbs 22.8% YOY

Sakai Ovex Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥70.53 per share, a gain of 22.7% from ¥57.47 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥455.3 million, an increase of 22.8% from ¥370.9 million in the prior-year period.

The normalized profit margin climbed to 6.6% from 6.1% in the year-earlier period.

Total revenue grew 13.6% on an annual basis to ¥6.86 billion from ¥6.04 billion, and total operating expenses grew 12.2% year over year to ¥6.30 billion from ¥5.62 billion.

Reported net income increased 11.7% from the prior-year period to ¥486.0 million, or ¥75.29 per share, from ¥435.0 million, or ¥67.41 per share.

As of Feb. 12, US$1 was equivalent to ¥118.90.