Chiyoda Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 amounted to ¥62.96 per share, compared with ¥63.04 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.48 billion, compared with ¥2.49 billion in the prior-year period.

The normalized profit margin declined to 6.3% from 6.3% in the year-earlier period.

Total revenue came to ¥39.46 billion, compared with ¥39.30 billion in the prior-year period, and total operating expenses rose on an annual basis to ¥35.59 billion from ¥35.16 billion.

Reported net income increased on an annual basis to ¥2.30 billion, or ¥58.41 per share, from ¥2.22 billion, or ¥56.12 per share.

As of July 11, US$1 was equivalent to ¥101.30.