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Kichiri & Co. fiscal Q3 profit falls YOY

Kichiri & Co. Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to ¥4.41 per share, a decrease from ¥4.61 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥45.0 million, a decrease of 52.3% from ¥94.4 million in the prior-year period.

The normalized profit margin dropped to 2.5% from 5.5% in the year-earlier period.

Total revenue grew 5.7% on an annual basis to ¥1.81 billion from ¥1.72 billion, and total operating expenses increased 10.6% from the prior-year period to ¥1.74 billion from ¥1.57 billion.

Reported net income declined 57.1% from the prior-year period to ¥39.0 million, or ¥3.82 per share, from ¥91.0 million, or ¥4.45 per share.

As of May 11, US$1 was equivalent to ¥119.93.