Kyoto Tool Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥33.54 per share, a decline of 15.1% from ¥39.48 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥80.4 million, a decline of 15.1% from ¥94.6 million in the year-earlier period.

The normalized profit margin rose to 5.0% from 4.9% in the year-earlier period.

Total revenue decreased 16.2% year over year to ¥1.61 billion from ¥1.92 billion, and total operating expenses fell 16.3% from the prior-year period to ¥1.49 billion from ¥1.79 billion.

Reported net income fell 44.5% year over year to ¥76.0 million, or ¥31.71 per share, from ¥137.0 million, or ¥57.17 per share.

As of Aug. 7, US$1 was equivalent to ¥102.16.