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HOB Co. Ltd. fiscal Q3 profit falls YOY

HOB Co. Ltd. said its normalized net income for the fiscal third quarter ended March 31 was ¥22.97 per share, a decline of 6.7% from ¥24.61 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥17.5 million, a decrease of 6.7% from ¥18.8 million in the year-earlier period.

The normalized profit margin dropped to 1.3% from 1.5% in the year-earlier period.

Total revenue grew 5.0% on an annual basis to ¥1.33 billion from ¥1.26 billion, and total operating expenses grew 5.2% year over year to ¥1.30 billion from ¥1.24 billion.

Reported net income fell 34.8% on an annual basis to ¥15.0 million, or ¥19.69 per share, from ¥23.0 million, or ¥30.18 per share.

As of May 13, US$1 was equivalent to ¥119.08.