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Musashi Seimitsu fiscal Q3 profit climbs 24.1% YOY

Musashi Seimitsu Industry Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥48.34 per share, a gain of 16.5% from ¥41.49 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.65 billion, a gain of 24.1% from ¥1.33 billion in the prior-year period.

The normalized profit margin rose to 4.2% from 3.6% in the year-earlier period.

Total revenue grew 5.2% year over year to ¥39.19 billion from ¥37.26 billion, and total operating expenses increased on an annual basis to ¥36.43 billion from ¥35.11 billion.

Reported net income increased 16.9% from the prior-year period to ¥2.04 billion, or ¥59.88 per share, from ¥1.75 billion, or ¥54.56 per share.

As of Feb. 13, US$1 was equivalent to ¥118.68.