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HKS Co. Ltd. fiscal Q3 profit falls YOY

HKS Co. Ltd. said its normalized net income for the fiscal third quarter ended May 31 amounted to ¥104.14 per share, a decline of 26.2% from ¥141.15 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥76.6 million, a decline of 29.3% from ¥108.4 million in the year-earlier period.

The normalized profit margin dropped to 4.0% from 5.6% in the year-earlier period.

Total revenue fell on an annual basis to ¥1.91 billion from ¥1.94 billion, and total operating expenses rose on an annual basis to ¥1.78 billion from ¥1.76 billion.

Reported net income declined 33.0% from the prior-year period to ¥65.0 million, or ¥88.34 per share, from ¥97.0 million, or ¥126.33 per share.

As of July 15, US$1 was equivalent to ¥105.85.