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Yamazawa fiscal Q3 profit falls YOY

Yamazawa Co. Ltd. said its normalized net income for the fiscal third quarter ended Nov. 30, 2014, amounted to ¥4.37 per share, a decrease of 29.5% from ¥6.20 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥47.5 million, a decline of 29.6% from ¥67.5 million in the year-earlier period.

The normalized profit margin fell to 0.2% from 0.3% in the year-earlier period.

Total revenue grew 6.8% on an annual basis to ¥26.72 billion from ¥25.01 billion, and total operating expenses increased 7.1% from the prior-year period to ¥26.67 billion from ¥24.91 billion.

Reported net income declined 61.3% on an annual basis to ¥22.0 million, or ¥2.02 per share, from ¥56.9 million, or ¥5.22 per share.

As of Jan. 13, US$1 was equivalent to ¥118.49.