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Nittobest fiscal Q3 profit falls YOY

Nittobest Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥10.76 per share, a decrease of 44.3% from ¥19.32 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥130.0 million, a decline of 44.4% from ¥233.8 million in the prior-year period.

The normalized profit margin dropped to 0.9% from 1.7% in the year-earlier period.

Total revenue increased 5.0% on an annual basis to ¥14.16 billion from ¥13.48 billion, and total operating expenses climbed 6.5% on an annual basis to ¥13.97 billion from ¥13.12 billion.

Reported net income decreased 25.6% on an annual basis to ¥157.0 million, or ¥13.00 per share, from ¥211.0 million, or ¥17.44 per share.

As of Feb. 12, US$1 was equivalent to ¥118.90.