Tokyo Kiho Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥28.27 per share, a decrease of 59.2% from ¥69.25 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥12.5 million, a decline of 59.2% from ¥30.6 million in the year-earlier period.

The normalized profit margin declined to 1.0% from 2.5% in the year-earlier period.

Total revenue grew on an annual basis to ¥1.22 billion from ¥1.21 billion, and total operating expenses grew from the prior-year period to ¥1.21 billion from ¥1.17 billion.

Reported net income fell 61.2% on an annual basis to ¥19.0 million, or ¥42.96 per share, from ¥49.0 million, or ¥110.80 per share.

As of Aug. 12, US$1 was equivalent to ¥123.89.