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Car Mate fiscal Q3 profit falls YOY

Car Mate Mfg. Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥69.66 per share, a decrease of 22.2% from ¥89.49 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥529.4 million, a decline of 22.2% from ¥680.0 million in the prior-year period.

The normalized profit margin fell to 7.4% from 9.2% in the year-earlier period.

Total revenue fell on an annual basis to ¥7.12 billion from ¥7.39 billion, and total operating expenses came to ¥6.34 billion, compared with ¥6.38 billion in the year-earlier period.

Reported net income fell 21.9% year over year to ¥543.0 million, or ¥71.46 per share, from ¥695.0 million, or ¥91.46 per share.

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