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Ajinomoto fiscal Q3 profit falls YOY

Ajinomoto Co. Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, came to ¥30.19 per share, a decline from ¥31.27 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥17.20 billion, a decrease of 6.3% from ¥18.35 billion in the year-earlier period.

The normalized profit margin rose to 5.9% from 5.9% in the year-earlier period.

Total revenue decreased 7.7% on an annual basis to ¥289.22 billion from ¥313.40 billion, and total operating expenses decreased 7.8% year over year to ¥259.49 billion from ¥281.31 billion.

Reported net income decreased 47.0% from the prior-year period to ¥20.32 billion, or ¥35.68 per share, from ¥38.36 billion, or ¥65.36 per share.

As of Feb. 10, US$1 was equivalent to ¥113.57.