SAIBO Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to ¥8.40 per share, a decline of 55.0% from ¥18.66 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥112.1 million, a decrease of 54.9% from ¥248.5 million in the prior-year period.

The normalized profit margin declined to 5.6% from 12.2% in the year-earlier period.

Total revenue totaled ¥2.01 billion, compared with ¥2.03 billion in the prior-year period, and total operating expenses grew 7.1% year over year to ¥1.82 billion from ¥1.70 billion.

Reported net income fell 75.6% from the prior-year period to ¥63.6 million, or ¥4.72 per share, from ¥260.8 million, or ¥19.58 per share.

As of Feb. 12, US$1 was equivalent to ¥112.83.