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Toyota Industries fiscal Q3 profit climbs YOY

Toyota Industries Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, amounted to ¥120.27 per share, a gain from ¥116.32 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥37.39 billion, an increase from ¥36.55 billion in the prior-year period.

The normalized profit margin climbed to 6.7% from 6.2% in the year-earlier period.

Total revenue fell 5.4% on an annual basis to ¥562.12 billion from ¥594.29 billion, and total operating expenses declined 5.5% year over year to ¥530.94 billion from ¥561.70 billion.

Reported net income declined 55.7% year over year to ¥46.45 billion, or ¥149.43 per share, from ¥104.86 billion, or ¥333.74 per share.

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