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ICDA Holdings fiscal Q3 profit falls YOY

International Conglomerate of Distribution for Automobile Holdings Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥31.49 per share, a decrease of 55.7% from ¥71.05 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥66.1 million, a decrease of 55.7% from ¥149.3 million in the prior-year period.

The normalized profit margin fell to 1.1% from 2.2% in the year-earlier period.

Total revenue declined 13.0% year over year to ¥5.95 billion from ¥6.84 billion, and total operating expenses fell 11.6% on an annual basis to ¥5.82 billion from ¥6.58 billion.

Reported net income fell 45.8% year over year to ¥65.0 million, or ¥30.95 per share, from ¥120.0 million, or ¥57.13 per share.

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