Ainavo Holdings Co. Ltd. said its normalized net income for the fiscal third quarter ended June 30 was ¥6.65 per share, a decrease of 37.2% from ¥10.59 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥76.9 million, a decrease of 37.2% from ¥122.5 million in the year-earlier period.

The normalized profit margin fell to 0.6% from 0.9% in the year-earlier period.

Total revenue declined 6.7% year over year to ¥12.26 billion from ¥13.14 billion, and total operating expenses declined 6.2% on an annual basis to ¥12.19 billion from ¥12.99 billion.

Reported net income grew 13.0% from the prior-year period to ¥122.0 million, or ¥10.55 per share, from ¥108.0 million, or ¥9.34 per share.

As of Aug. 11, US$1 was equivalent to ¥124.86.