Success Holdings Co. Ltd. said its normalized net income for the third quarter was ¥9.30 per share, a decrease of 34.5% from ¥14.19 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥48.8 million, a decline of 34.5% from ¥74.4 million in the year-earlier period.

The normalized profit margin declined to 1.6% from 2.9% in the year-earlier period.

Total revenue increased 17.2% year over year to ¥2.98 billion from ¥2.54 billion, and total operating expenses grew 19.9% on an annual basis to ¥2.89 billion from ¥2.41 billion.

Reported net income totaled a loss of ¥91.0 million, or a loss of ¥17.36 per share, compared to income of ¥64.0 million, or ¥12.21 per share, in the prior-year period.

As of Nov. 9, US$1 was equivalent to ¥123.27.