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Yuasa Funashoku fiscal Q3 profit falls YOY

Yuasa Funashoku Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥69.13 per share, a decline of 9.4% from ¥76.27 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥310.9 million, a decline of 9.4% from ¥343.1 million in the year-earlier period.

The normalized profit margin dropped to 1.1% from 1.2% in the year-earlier period.

Total revenue declined on an annual basis to ¥27.27 billion from ¥28.51 billion, and total operating expenses declined year over year to ¥26.82 billion from ¥28.00 billion.

Reported net income fell 15.5% from the prior-year period to ¥283.0 million, or ¥62.93 per share, from ¥335.0 million, or ¥74.47 per share.

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