Harakosan Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 amounted to a loss of 6 Japanese sen per share, compared with a loss of ¥6.34 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 ¥4.4 million, compared with a loss of ¥246.3 million in the year-earlier period.

The normalized profit margin climbed to negative 1.7% from negative 87.3% in the year-earlier period.

Total revenue declined 7.8% on an annual basis to ¥260.0 million from ¥282.0 million, and total operating expenses declined 60.8% year over year to ¥254.0 million from ¥648.0 million.

Reported net income came to ¥9.0 million, or 13 sen per share, compared to a loss of ¥438.0 million, or a loss of ¥11.27 per share, in the year-earlier period.

As of July 13, US$1 was equivalent to ¥123.47.