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Yokohama Maruuo fiscal Q3 profit falls YOY

Yokohama Maruuo Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥15.64 per share, a decrease of 12.3% from ¥17.83 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥110.6 million, a decrease of 12.4% from ¥126.3 million in the year-earlier period.

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

Total revenue declined on an annual basis to ¥16.93 billion from ¥17.25 billion, and total operating expenses decreased year over year to ¥16.84 billion from ¥17.14 billion.

Reported net income declined 42.8% year over year to ¥135.0 million, or ¥19.09 per share, from ¥236.0 million, or ¥33.33 per share.

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