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Koito Manufacturing fiscal Q3 profit climbs 19.0% YOY

Koito Manufacturing Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, came to ¥89.08 per share, a gain of 19.0% from ¥74.83 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥14.32 billion, an increase of 19.0% from ¥12.03 billion in the prior-year period.

The normalized profit margin increased to 6.5% from 5.7% in the year-earlier period.

Total revenue grew year over year to ¥219.42 billion from ¥212.60 billion, and total operating expenses increased year over year to ¥195.59 billion from ¥189.39 billion.

Reported net income increased 9.3% on an annual basis to ¥17.01 billion, or ¥105.81 per share, from ¥15.56 billion, or ¥96.78 per share.

As of Feb. 2, US$1 was equivalent to ¥112.39.