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Kikkoman fiscal Q3 profit falls YOY

Kikkoman Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥14.61 per share, a decrease of 15.8% from ¥17.35 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.86 billion, a decrease of 17.6% from ¥3.47 billion in the prior-year period.

The normalized profit margin dropped to 2.9% from 3.9% in the year-earlier period.

Total revenue grew 10.3% on an annual basis to ¥99.30 billion from ¥90.01 billion, and total operating expenses climbed 9.8% year over year to ¥91.19 billion from ¥83.06 billion.

Reported net income grew 17.2% year over year to ¥5.61 billion, or ¥28.66 per share, from ¥4.79 billion, or ¥23.93 per share.

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