Niitaka Co. Ltd. said its normalized net income for the fiscal third quarter ended Feb. 29 was ¥30.38 per share, an increase of 21.6% from ¥24.98 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥179.4 million, an increase of 21.6% from ¥147.5 million in the prior-year period.

The normalized profit margin climbed to 4.8% from 4.1% in the year-earlier period.

Total revenue rose on an annual basis to ¥3.75 billion from ¥3.57 billion, and total operating expenses grew from the prior-year period to ¥3.46 billion from ¥3.34 billion.

Reported net income decreased year over year to ¥189.0 million, or ¥32.01 per share, from ¥198.0 million, or ¥33.54 per share.

As of April 13, US$1 was equivalent to ¥109.28.