Globeride reported a big increase in comprehensive net income to 3,576 million yen (€27.1m-$33.6m) for the first nine months of its financial year as compared to ¥587 million in the year ago period, as lower foreign exchange losses and the settlement of a patent issue led to an increase of ¥2.5 billion (€19.0m-$23.5m) in extraordinary items. The gross margin contracted by one percentage point to 36.0 percent. Revenues rose by 8 percent to ¥63.9 billion (€484.8m-$601.0m) for the company, which owns the Daiwa brand of fishing tackle and distributes Prince in Japan. The local market is seen recovering, and the company is investing to expand in overseas markets.

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