T.Kawabe & Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥5.71 per share, a decrease of 45.4% from ¥10.47 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥104.4 million, a decline of 45.4% from ¥191.3 million in the prior-year period.
The normalized profit margin dropped to 2.3% from 3.9% in the year-earlier period.
Total revenue decreased 8.1% on an annual basis to ¥4.46 billion from ¥4.85 billion, and total operating expenses declined 5.6% on an annual basis to ¥4.30 billion from ¥4.55 billion.
Reported net income rose on an annual basis to ¥315.0 million, or ¥17.24 per share, from ¥143.0 million, or ¥7.83 per share.
As of Feb. 13, US$1 was equivalent to ¥118.68.
