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Towa Food Service fiscal Q3 profit falls YOY

Towa Food Service Co. Ltd. said its normalized net income for the fiscal third quarter ended Jan. 31 amounted to ¥16.79 per share, compared with ¥16.94 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥136.9 million, compared with ¥138.1 million in the prior-year period.

The normalized profit margin declined to 5.0% from 5.2% in the year-earlier period.

Total revenue rose on an annual basis to ¥2.72 billion from ¥2.64 billion, and total operating expenses increased from the prior-year period to ¥2.51 billion from ¥2.42 billion.

Reported net income decreased year over year to ¥115.0 million, or ¥14.11 per share, from ¥117.0 million, or ¥14.35 per share.

As of March 13, US$1 was equivalent to ¥121.18.