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Kyoto Tool fiscal Q3 profit climbs 32.4% YOY

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Kyoto Tool fiscal Q3 profit climbs 32.4% YOY

Kyoto Tool Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to ¥49.04 per share, a gain of 32.4% from ¥37.04 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥117.5 million, a gain of 32.4% from ¥88.8 million in the prior-year period.

The normalized profit margin declined to 4.3% from 5.1% in the year-earlier period.

Total revenue grew 56.7% on an annual basis to ¥2.72 billion from ¥1.74 billion, and total operating expenses grew 58.1% from the prior-year period to ¥2.55 billion from ¥1.61 billion.

Reported net income declined 27.7% from the prior-year period to ¥128.0 million, or ¥53.42 per share, from ¥177.0 million, or ¥73.86 per share.

As of Feb. 3, US$1 was equivalent to ¥118.06.