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Sato Foods Industries fiscal Q3 profit climbs 22.2% YOY

Sato Foods Industries Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥30.81 per share, an increase of 22.2% from ¥25.21 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥192.5 million, an increase of 22.2% from ¥157.5 million in the year-earlier period.

The normalized profit margin climbed to 12.0% from 9.8% in the year-earlier period.

Total revenue totaled ¥1.61 billion, compared with ¥1.60 billion in the year-earlier period, and total operating expenses decreased year over year to ¥1.32 billion from ¥1.37 billion.

Reported net income increased 68.8% from the prior-year period to ¥54.0 million, or ¥8.64 per share, from ¥32.0 million, or ¥5.12 per share.

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