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Taisei fiscal Q3 profit climbs 30.2% YOY

Taisei Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was ¥90.57 per share, an increase of 26.7% from ¥71.47 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥21.19 billion, an increase of 30.2% from ¥16.28 billion in the prior-year period.

The normalized profit margin increased to 5.5% from 4.0% in the year-earlier period.

Total revenue fell year over year to ¥387.31 billion from ¥406.07 billion, and total operating expenses declined 7.4% year over year to ¥354.42 billion from ¥382.69 billion.

Reported net income grew 37.6% from the prior-year period to ¥22.68 billion, or ¥96.92 per share, from ¥16.48 billion, or ¥72.35 per share.

As of Feb. 10, US$1 was equivalent to ¥114.87.