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Shinobu Foods Products fiscal Q3 profit climbs 37.0% YOY

Shinobu Foods Products Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥17.92 per share, an increase of 43.8% from ¥12.46 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥237.4 million, an increase of 37.0% from ¥173.3 million in the prior-year period.

The normalized profit margin rose to 2.2% from 1.6% in the year-earlier period.

Total revenue grew on an annual basis to ¥10.72 billion from ¥10.56 billion, and total operating expenses totaled ¥10.35 billion, compared with ¥10.29 billion in the year-earlier period.

Reported net income rose 58.0% year over year to ¥275.0 million, or ¥20.76 per share, from ¥174.0 million, or ¥12.52 per share.

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