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Nihon Seimitsu fiscal Q3 profit climbs 40.5% YOY

Nihon Seimitsu Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥4.55 per share, a gain of 31.8% from ¥3.45 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥73.8 million, an increase of 40.5% from ¥52.5 million in the year-earlier period.

The normalized profit margin increased to 3.4% from 2.7% in the year-earlier period.

Total revenue rose 13.3% year over year to ¥2.17 billion from ¥1.92 billion, and total operating expenses increased 16.3% from the prior-year period to ¥2.16 billion from ¥1.86 billion.

Reported net income increased 34.6% on an annual basis to ¥109.0 million, or ¥6.72 per share, from ¥81.0 million, or ¥5.32 per share.

As of Feb. 13, US$1 was equivalent to ¥118.68.