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Toyo Sugar Refining fiscal Q3 profit falls YOY

Toyo Sugar Refining Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥23.38 per share, a decline of 8.1% from ¥25.44 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥127.5 million, a decrease of 8.1% from ¥138.8 million in the prior-year period.

The normalized profit margin fell to 3.4% from 3.6% in the year-earlier period.

Total revenue fell on an annual basis to ¥3.75 billion from ¥3.87 billion, and total operating expenses fell year over year to ¥3.55 billion from ¥3.65 billion.

Reported net income came to ¥139.0 million, or ¥25.49 per share, compared to ¥140.0 million, or ¥25.67 per share, in the year-earlier period.

As of Feb. 6, US$1 was equivalent to ¥119.01.