CSMEN Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 came to ¥8.71 per share, a decline of 38.9% from ¥14.25 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥6.9 million, a decline of 38.9% from ¥11.3 million in the prior-year period.

The normalized profit margin dropped to 0.4% from 0.6% in the year-earlier period.

Total revenue decreased on an annual basis to ¥1.68 billion from ¥1.75 billion, and total operating expenses decreased from the prior-year period to ¥1.67 billion from ¥1.73 billion.

Reported net income totaled a loss of ¥10.0 million, or a loss of ¥12.66 per share, compared to income of ¥1.0 million, or ¥1.27 per share, in the prior-year period.

As of July 8, US$1 was equivalent to ¥121.04.