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Chiyoda fiscal Q3 profit falls YOY

Chiyoda Co. Ltd. said its normalized net income for the fiscal third quarter ended Nov. 30, 2014, came to ¥24.43 per share, a decline of 30.5% from ¥35.16 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥955.3 million, a decline of 31.4% from ¥1.39 billion in the prior-year period.

The normalized profit margin dropped to 2.8% from 3.9% in the year-earlier period.

Total revenue decreased 5.3% year over year to ¥33.95 billion from ¥35.86 billion, and total operating expenses decreased year over year to ¥32.48 billion from ¥33.71 billion.

Reported net income declined 36.8% from the prior-year period to ¥749.9 million, or ¥19.18 per share, from ¥1.19 billion, or ¥29.99 per share.

As of Jan. 13, US$1 was equivalent to ¥118.49.