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Watabe Wedding fiscal Q3 profit climbs 86.2% YOY

Watabe Wedding Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥98.43 per share, an increase of 86.2% from ¥52.86 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥975.4 million, a gain of 86.2% from ¥523.8 million in the year-earlier period.

The normalized profit margin climbed to 7.2% from 3.8% in the year-earlier period.

Total revenue declined on an annual basis to ¥13.49 billion from ¥13.72 billion, and total operating expenses declined 5.8% from the prior-year period to ¥12.16 billion from ¥12.90 billion.

Reported net income rose 18.8% year over year to ¥608.0 million, or ¥61.36 per share, from ¥512.0 million, or ¥51.67 per share.

As of Feb. 2, US$1 was equivalent to ¥117.28.