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Joban Kosan fiscal Q3 profit falls YOY

Joban Kosan Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥7.95 per share, a decrease of 64.9% from ¥22.68 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥69.9 million, a decline of 65.0% from ¥199.6 million in the year-earlier period.

The normalized profit margin fell to 0.6% from 1.4% in the year-earlier period.

Total revenue decreased 17.2% on an annual basis to ¥11.79 billion from ¥14.25 billion, and total operating expenses declined 16.4% from the prior-year period to ¥11.56 billion from ¥13.84 billion.

Reported net income fell 67.8% year over year to ¥118.0 million, or ¥13.43 per share, from ¥367.0 million, or ¥41.69 per share.

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