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Kanemitsu fiscal Q3 profit climbs 6.0% YOY

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Kanemitsu fiscal Q3 profit climbs 6.0% YOY

Kanemitsu Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥27.58 per share, an increase of 6.0% from ¥26.01 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥141.0 million, a gain of 6.0% from ¥133.0 million in the prior-year period.

The normalized profit margin fell to 7.1% from 7.1% in the year-earlier period.

Total revenue grew 6.7% year over year to ¥2.00 billion from ¥1.87 billion, and total operating expenses increased 8.2% year over year to ¥1.81 billion from ¥1.67 billion.

Reported net income rose 55.1% from the prior-year period to ¥245.0 million, or ¥47.92 per share, from ¥158.0 million, or ¥30.90 per share.

As of Feb. 9, US$1 was equivalent to ¥118.60.