Tein Inc. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥2.89 per share, a decline of 75.3% from ¥11.67 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥15.0 million, a decrease of 75.3% from ¥60.6 million in the year-earlier period.

The normalized profit margin dropped to 1.5% from 7.7% in the year-earlier period.

Total revenue rose 25.4% year over year to ¥991.0 million from ¥790.0 million, and total operating expenses grew 30.4% on an annual basis to ¥947.0 million from ¥726.0 million.

Reported net income fell 85.0% on an annual basis to ¥9.0 million, or ¥1.73 per share, from ¥60.0 million, or ¥11.55 per share.

As of Nov. 13, US$1 was equivalent to ¥122.78.