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Sakata Seed fiscal Q3 profit climbs 21.7% YOY

Sakata Seed Corp. said its normalized net income for the fiscal third quarter ended Feb. 28 amounted to ¥18.85 per share, a gain of 21.7% from ¥15.49 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥848.1 million, a gain of 21.7% from ¥697.1 million in the prior-year period.

The normalized profit margin climbed to 6.0% from 5.1% in the year-earlier period.

Total revenue grew year over year to ¥14.21 billion from ¥13.59 billion, and total operating expenses grew on an annual basis to ¥13.00 billion from ¥12.44 billion.

Reported net income increased 33.6% on an annual basis to ¥999.0 million, or ¥22.20 per share, from ¥748.0 million, or ¥16.62 per share.

As of April 14, US$1 was equivalent to ¥119.09.