Soiken Holdings Inc. said its normalized net income for the fiscal third quarter ended March 31 came to ¥1.65 per share, a decline of 22.3% from ¥2.12 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥43.1 million, a decline of 23.0% from ¥56.0 million in the year-earlier period.

The normalized profit margin declined to 7.2% from 9.2% in the year-earlier period.

Total revenue fell year over year to ¥597.0 million from ¥607.0 million, and total operating expenses rose from the prior-year period to ¥541.0 million from ¥522.0 million.

Reported net income decreased 18.8% from the prior-year period to ¥63.0 million, or ¥2.41 per share, from ¥77.5 million, or ¥2.94 per share.

As of May 14, US$1 was equivalent to ¥119.24.