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Yonex fiscal Q3 profit climbs 38.8% YOY

Yonex Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥1.15 per share, an increase of 38.3% from 84 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥100.6 million, an increase of 38.8% from ¥72.5 million in the year-earlier period.

The normalized profit margin climbed to 0.9% from 0.7% in the year-earlier period.

Total revenue rose 16.5% year over year to ¥11.52 billion from ¥9.89 billion, and total operating expenses rose 15.7% year over year to ¥11.59 billion from ¥10.02 billion.

Reported net income increased from the prior-year period to ¥89.8 million, or ¥1.03 per share, from ¥9.0 million, or 10 sen per share.

As of Feb. 10, US$1 was equivalent to ¥119.28.