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Gunze fiscal Q3 profit climbs 5.2% YOY

Gunze Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥92.27 per share, an increase of 5.1% from ¥87.77 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.78 billion, an increase of 5.2% from ¥1.69 billion in the year-earlier period.

The normalized profit margin rose to 4.6% from 4.5% in the year-earlier period.

Total revenue rose year over year to ¥39.05 billion from ¥38.03 billion, and total operating expenses rose on an annual basis to ¥37.12 billion from ¥35.69 billion.

Reported net income declined on an annual basis to ¥1.85 billion, or ¥95.77 per share, from ¥1.92 billion, or ¥99.66 per share.

As of Feb. 13, US$1 was equivalent to ¥118.68.