Sekisui House Ltd. said its normalized net income for the fiscal third quarter ended Oct. 31 was ¥18.49 per share, a decrease of 14.3% from ¥21.57 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥13.35 billion, a decrease of 14.3% from ¥15.58 billion in the year-earlier period.
The normalized profit margin declined to 3.4% from 3.8% in the year-earlier period.
Total revenue declined year over year to ¥393.93 billion from ¥412.78 billion, and total operating expenses declined year over year to ¥374.81 billion from ¥388.01 billion.
Reported net income fell 16.8% on an annual basis to ¥13.94 billion, or ¥19.31 per share, from ¥16.76 billion, or ¥23.20 per share.
As of Dec. 12, US$1 was equivalent to ¥118.57.
