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Subaru fiscal Q3 profit climbs 29.0% YOY

Subaru Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥90.53 per share, an increase of 29.0% from ¥70.16 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥70.65 billion, an increase of 29.0% from ¥54.76 billion in the year-earlier period.

The normalized profit margin climbed to 9.4% from 9.4% in the year-earlier period.

Total revenue grew 28.8% year over year to ¥750.49 billion from ¥582.88 billion, and total operating expenses grew 25.1% on an annual basis to ¥626.00 billion from ¥500.23 billion.

Reported net income fell 5.4% year over year to ¥77.33 billion, or ¥99.09 per share, from ¥81.73 billion, or ¥104.73 per share.

As of Feb. 9, US$1 was equivalent to ¥118.60.