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Yokohama Reito fiscal Q3 profit climbs 82.3% YOY

Yokohama Reito Co. Ltd. said its normalized net income for the fiscal third quarter ended June 30 amounted to ¥14.13 per share, an increase of 82.3% from ¥7.75 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥835.3 million, an increase of 82.3% from ¥458.1 million in the year-earlier period.

The normalized profit margin climbed to 2.1% from 1.3% in the year-earlier period.

Total revenue increased 10.6% on an annual basis to ¥39.57 billion from ¥35.79 billion, and total operating expenses grew 9.2% from the prior-year period to ¥38.34 billion from ¥35.11 billion.

Reported net income grew from the prior-year period to ¥919.8 million, or ¥15.56 per share, from ¥419.7 million, or ¥7.10 per share.

As of Aug. 14, US$1 was equivalent to ¥124.29.