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Maruyoshi Center swings to profit in fiscal Q3

Maruyoshi Center Inc. said its normalized net income for the fiscal third quarter ended Nov. 30, 2014, was ¥11.89 per share, compared with a loss of ¥5.81 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥95.4 million, compared with a loss of ¥47.8 million in the prior-year period.

The normalized profit margin climbed to 0.9% from negative 0.5% in the year-earlier period.

Total revenue rose year over year to ¥10.30 billion from ¥10.14 billion, and total operating expenses came to ¥10.09 billion, compared with ¥10.14 billion in the prior-year period.

Reported net income came to ¥82.0 million, or ¥10.22 per share, compared to a loss of ¥63.0 million, or a loss of ¥7.66 per share, in the prior-year period.

As of Jan. 14, US$1 was equivalent to ¥116.84.