Top Culture Co. Ltd. said its normalized net income for the fiscal second quarter ended April 30 came to ¥11.57 per share, a decrease of 23.4% from ¥15.10 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥140.1 million, a decrease of 23.1% from ¥182.3 million in the prior-year period.
The normalized profit margin fell to 1.6% from 2.0% in the year-earlier period.
Total revenue fell year over year to ¥8.49 billion from ¥8.92 billion, and total operating expenses declined year over year to ¥8.26 billion from ¥8.63 billion.
Reported net income decreased 53.5% from the prior-year period to ¥87.5 million, or ¥7.22 per share, from ¥188.0 million, or ¥15.58 per share.
As of June 12, US$1 was equivalent to ¥123.29.
