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Nippon Shikizai swings to profit in fiscal Q3

Nippon Shikizai Inc. said its normalized net income for the fiscal third quarter ended Nov. 30, 2015, amounted to ¥100.75 per share, compared with a loss of ¥42.75 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥86.9 million, compared with a loss of ¥36.9 million in the year-earlier period.

The normalized profit margin rose to 3.8% from negative 2.2% in the year-earlier period.

Total revenue increased 35.8% year over year to ¥2.28 billion from ¥1.68 billion, and total operating expenses climbed 21.0% from the prior-year period to ¥2.11 billion from ¥1.75 billion.

Reported net income came to ¥86.0 million, or ¥99.74 per share, compared to a loss of ¥44.0 million, or a loss of ¥51.01 per share, in the year-earlier period.

As of Jan. 13, US$1 was equivalent to ¥118.29.