Subaru Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 came to a loss of ¥78.66 per share, compared with a loss of ¥79.64 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥49.4 million, compared with a loss of ¥50.0 million in the prior-year period.

The normalized profit margin declined to negative 7.1% from negative 7.0% in the year-earlier period.

Total revenue declined year over year to ¥697.0 million from ¥716.0 million, and total operating expenses declined year over year to ¥783.0 million from ¥799.0 million.

Reported net income totaled a loss of ¥63.0 million, or a loss of ¥100.37 per share, compared to a loss of ¥57.0 million, or a loss of ¥90.79 per share, in the prior-year period.

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