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Nissin Sugar fiscal Q3 profit climbs 15.7% YOY

Nissin Sugar Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥39.17 per share, an increase of 15.7% from ¥33.85 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥865.0 million, a gain of 15.7% from ¥747.5 million in the year-earlier period.

The normalized profit margin increased to 6.1% from 5.2% in the year-earlier period.

Total revenue decreased on an annual basis to ¥14.13 billion from ¥14.33 billion, and total operating expenses declined on an annual basis to ¥12.88 billion from ¥13.27 billion.

Reported net income decreased 30.2% from the prior-year period to ¥534.0 million, or ¥24.18 per share, from ¥765.0 million, or ¥34.64 per share.

As of Feb. 12, US$1 was equivalent to ¥118.90.