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Suzuki Motor fiscal Q3 profit climbs 22.4% YOY

Suzuki Motor Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, was ¥60.46 per share, an increase of 25.3% from ¥48.26 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥26.68 billion, a gain of 22.4% from ¥21.79 billion in the year-earlier period.

The normalized profit margin rose to 3.5% from 2.7% in the year-earlier period.

Total revenue decreased 5.9% on an annual basis to ¥753.01 billion from ¥800.07 billion, and total operating expenses fell 7.1% on an annual basis to ¥701.16 billion from ¥754.92 billion.

Reported net income rose 44.0% on an annual basis to ¥33.43 billion, or ¥75.75 per share, from ¥23.21 billion, or ¥51.40 per share.

As of Feb. 13, US$1 was equivalent to ¥113.90.