Japan Foods Holding Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to S$679,380, a fall of 38.9% from S$1.1 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 4.4% from 6.7% in the year-earlier period.

Total revenue fell 7.5% on an annual basis to S$15.4 million from S$16.6 million, and total operating expenses fell year over year to S$14.4 million from S$14.9 million.

Reported net income fell 38.3% from the prior-year period to S$912,000, or 1 cents per share, from S$1.5 million, or 1 cents per share.

As of Feb. 12, US$1 was equivalent to S$1.40.