Kirindo Holdings Co. Ltd. said its normalized net income for the fiscal first quarter ended May 15 amounted to ¥20.82 per share, compared with ¥20.65 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥235.9 million, compared with ¥234.0 million in the prior-year period.

The normalized profit margin dropped to 0.9% from 1.0% in the year-earlier period.

Total revenue increased year over year to ¥25.38 billion from ¥24.51 billion, and total operating expenses grew year over year to ¥25.09 billion from ¥24.21 billion.

Reported net income declined 16.0% on an annual basis to ¥126.0 million, or ¥11.12 per share, from ¥150.0 million, or ¥13.24 per share.

As of June 26, US$1 was equivalent to ¥101.57.