Koshidaka Holdings Co. Ltd. said its normalized net income for the fiscal third quarter ended May 31 was ¥33.88 per share, a decline of 15.2% from ¥39.94 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥626.3 million, a decline of 17.3% from ¥757.0 million in the prior-year period.

The normalized profit margin declined to 5.7% from 7.5% in the year-earlier period.

Total revenue grew 9.6% year over year to ¥11.02 billion from ¥10.06 billion, and total operating expenses grew 13.6% year over year to ¥9.96 billion from ¥8.77 billion.

Reported net income fell 35.3% from the prior-year period to ¥484.0 million, or ¥26.19 per share, from ¥748.0 million, or ¥39.46 per share.

As of July 15, US$1 was equivalent to ¥123.95.