Joyfull Co. Ltd. said its normalized net income for the third quarter came to ¥23.25 per share, a decline of 10.8% from ¥26.08 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥683.8 million, a decrease of 10.8% from ¥766.9 million in the year-earlier period.

The normalized profit margin dropped to 4.0% from 4.8% in the year-earlier period.

Total revenue increased 7.2% year over year to ¥17.10 billion from ¥15.95 billion, and total operating expenses rose 8.6% year over year to ¥16.00 billion from ¥14.73 billion.

Reported net income decreased 7.2% from the prior-year period to ¥675.0 million, or ¥22.95 per share, from ¥727.0 million, or ¥24.72 per share.

As of Nov. 9, US$1 was equivalent to ¥123.27.