Tokyo Radiator Mfg. Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥17.08 per share, a decline of 29.0% from ¥24.06 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥245.8 million, a decline of 29.0% from ¥346.3 million in the year-earlier period.

The normalized profit margin fell to 3.4% from 5.1% in the year-earlier period.

Total revenue increased 8.0% on an annual basis to ¥7.27 billion from ¥6.73 billion, and total operating expenses rose 8.5% on an annual basis to ¥6.78 billion from ¥6.25 billion.

Reported net income fell 25.2% from the prior-year period to ¥282.0 million, or ¥19.60 per share, from ¥377.0 million, or ¥26.20 per share.

As of Aug. 7, US$1 was equivalent to ¥102.16.