Transaction Co. Ltd. said its normalized net income for the fiscal third quarter ended May 31 came to ¥4.93 per share, a decrease of 21.7% from ¥6.30 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥124.4 million, a decline of 23.8% from ¥163.1 million in the year-earlier period.

The normalized profit margin dropped to 4.9% from 6.1% in the year-earlier period.

Total revenue decreased 5.1% year over year to ¥2.53 billion from ¥2.66 billion, and total operating expenses fell on an annual basis to ¥2.33 billion from ¥2.40 billion.

Reported net income declined 29.0% year over year to ¥124.1 million, or ¥4.92 per share, from ¥174.9 million, or ¥6.76 per share.

As of July 14, US$1 was equivalent to ¥123.44.