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SK Japan swings to profit in fiscal Q3

SK Japan Co. Ltd. said its normalized net income for the fiscal third quarter ended Nov. 30, 2014, was ¥3.95 per share, compared with a loss of ¥3.72 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥32.5 million, compared with a loss of ¥30.6 million in the prior-year period.

The normalized profit margin increased to 2.2% from negative 1.8% in the year-earlier period.

Total revenue decreased 13.3% on an annual basis to ¥1.50 billion from ¥1.73 billion, and total operating expenses fell 17.9% from the prior-year period to ¥1.45 billion from ¥1.77 billion.

Reported net income totaled a loss of ¥3.0 million, or a loss of 36 sen per share, compared to a loss of ¥52.0 million, or a loss of ¥6.32 per share, in the year-earlier period.

As of Jan. 14, US$1 was equivalent to ¥116.84.