United Arrows Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥59.06 per share, a decline of 15.6% from ¥69.98 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.88 billion, a decrease of 15.5% from ¥2.23 billion in the year-earlier period.

The normalized profit margin fell to 6.3% from 7.6% in the year-earlier period.

Total revenue climbed year over year to ¥29.85 billion from ¥29.25 billion, and total operating expenses increased from the prior-year period to ¥26.89 billion from ¥25.67 billion.

Reported net income declined 16.8% on an annual basis to ¥1.72 billion, or ¥54.02 per share, from ¥2.07 billion, or ¥64.99 per share.

As of Aug. 13, US$1 was equivalent to ¥102.37.