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Mitsui Sugar fiscal Q3 profit falls YOY

Mitsui Sugar Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥69.99 per share, a decline from ¥71.51 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.87 billion, a decline from ¥1.91 billion in the year-earlier period.

The normalized profit margin fell to 7.0% from 7.5% in the year-earlier period.

Total revenue climbed year over year to ¥26.67 billion from ¥25.52 billion, and total operating expenses climbed 6.4% on an annual basis to ¥25.13 billion from ¥23.61 billion.

Reported net income fell 5.8% year over year to ¥1.83 billion, or ¥68.65 per share, from ¥1.94 billion, or ¥72.89 per share.

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