Ifuji Sangyo Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥8.03 per share, a gain from ¥7.88 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥66.9 million, an increase from ¥65.6 million in the year-earlier period.

The normalized profit margin dropped to 2.0% from 2.1% in the year-earlier period.

Total revenue grew 6.3% on an annual basis to ¥3.37 billion from ¥3.17 billion, and total operating expenses grew 6.7% from the prior-year period to ¥3.28 billion from ¥3.07 billion.

Reported net income fell 6.8% on an annual basis to ¥68.0 million, or ¥8.16 per share, from ¥73.0 million, or ¥8.76 per share.

As of Aug. 6, US$1 was equivalent to ¥124.71.