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Makita fiscal Q3 profit falls YOY

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Makita fiscal Q3 profit falls YOY

Makita Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, amounted to ¥35.55 per share, a decline from ¥36.84 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥9.65 billion, a decline from ¥10.00 billion in the prior-year period.

The normalized profit margin dropped to 9.1% from 9.4% in the year-earlier period.

Total revenue came to ¥106.26 billion, compared with ¥106.90 billion in the year-earlier period, and total operating expenses came to ¥92.29 billion, compared with ¥91.48 billion in the prior-year period.

Reported net income decreased 7.0% year over year to ¥10.62 billion, or ¥39.10 per share, from ¥11.42 billion, or ¥42.03 per share.

As of Feb. 7, US$1 was equivalent to ¥112.34.