Oie Sangyo Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥1.17 per share, a decline of 86.0% from ¥8.38 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥10.6 million, a decline of 86.3% from ¥77.5 million in the year-earlier period.

The normalized profit margin fell to 0.1% from 0.4% in the year-earlier period.

Total revenue climbed 5.5% year over year to ¥18.43 billion from ¥17.47 billion, and total operating expenses grew 6.1% from the prior-year period to ¥18.43 billion from ¥17.37 billion.

Reported net income fell 84.5% on an annual basis to ¥9.0 million, or 99 sen per share, from ¥58.0 million, or ¥6.27 per share.

As of Aug. 13, US$1 was equivalent to ¥102.37.