Tokyo Individualized Educational Institute Inc. said its normalized net income for the fiscal first quarter ended May 31 was a loss of ¥10.31 per share, compared with a loss of ¥9.77 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥560.0 million, compared with a loss of ¥530.6 million in the prior-year period.

The normalized profit margin climbed to negative 18.4% from negative 18.5% in the year-earlier period.

Total revenue grew 6.0% on an annual basis to ¥3.04 billion from ¥2.87 billion, and total operating expenses increased 5.9% from the prior-year period to ¥3.94 billion from ¥3.72 billion.

Reported net income totaled a loss of ¥596.0 million, or a loss of ¥10.98 per share, compared to a loss of ¥539.0 million, or a loss of ¥9.93 per share, in the year-earlier period.

As of July 13, US$1 was equivalent to ¥123.47.