Yamazawa Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 came to ¥19.59 per share, compared with ¥19.53 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥213.1 million, compared with ¥212.5 million in the prior-year period.

The normalized profit margin declined to 0.8% from 0.9% in the year-earlier period.

Total revenue grew 11.3% on an annual basis to ¥27.50 billion from ¥24.70 billion, and total operating expenses increased 11.5% on an annual basis to ¥27.16 billion from ¥24.36 billion.

Reported net income came to a loss of ¥287.0 million, or a loss of ¥26.38 per share, compared to a loss of ¥59.0 million, or a loss of ¥5.42 per share, in the year-earlier period.

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