Kato Sangyo Co. Ltd. said its normalized net income for the fiscal third quarter ended June 30 was ¥40.03 per share, a gain of 11.3% from ¥35.96 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.50 billion, a gain of 11.3% from ¥1.35 billion in the prior-year period.

The normalized profit margin declined to 0.7% from 0.7% in the year-earlier period.

Total revenue increased 22.7% on an annual basis to ¥226.57 billion from ¥184.60 billion, and total operating expenses rose 23.0% year over year to ¥224.69 billion from ¥182.71 billion.

Reported net income grew 25.0% from the prior-year period to ¥1.49 billion, or ¥39.76 per share, from ¥1.19 billion, or ¥31.80 per share.

As of Aug. 14, US$1 was equivalent to ¥124.29.