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Chuo Spring fiscal Q3 profit climbs 15.1% YOY

Chuo Spring Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥127.78 per share, a gain of 15.1% from ¥111.02 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥801.1 million, an increase of 15.1% from ¥696.3 million in the year-earlier period.

The normalized profit margin increased to 3.4% from 3.1% in the year-earlier period.

Total revenue increased on an annual basis to ¥23.43 billion from ¥22.47 billion, and total operating expenses rose year over year to ¥22.80 billion from ¥21.92 billion.

Reported net income increased on an annual basis to ¥657.0 million, or ¥104.79 per share, from ¥29.0 million, or ¥4.62 per share.

As of Feb. 16, US$1 was equivalent to ¥118.46.