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Harada Industry fiscal Q3 profit falls YOY

Harada Industry Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥5.23 per share, a decline of 67.4% from ¥16.03 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥113.8 million, a decline of 67.4% from ¥348.8 million in the year-earlier period.

The normalized profit margin declined to 1.2% from 3.9% in the year-earlier period.

Total revenue rose year over year to ¥9.25 billion from ¥8.90 billion, and total operating expenses grew 8.3% year over year to ¥9.22 billion from ¥8.51 billion.

Reported net income declined 96.5% on an annual basis to ¥17.0 million, or 78 sen per share, from ¥483.0 million, or ¥22.20 per share.

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