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Makoto Construction fiscal Q3 profit falls YOY

Makoto Construction Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥1.55 per share, a decrease of 96.4% from ¥42.87 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.1 million, a decline of 96.4% from ¥86.3 million in the year-earlier period.

The normalized profit margin declined to 0.6% from 7.2% in the year-earlier period.

Total revenue declined 55.4% on an annual basis to ¥534.0 million from ¥1.20 billion, and total operating expenses decreased 49.1% on an annual basis to ¥536.0 million from ¥1.05 billion.

Reported net income declined 98.8% year over year to ¥1.0 million, or 50 sen per share, from ¥82.0 million, or ¥40.76 per share.

As of Feb. 10, US$1 was equivalent to ¥119.28.