Watt Mann Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 23 Japanese sen per share, a decline of 85.2% from ¥1.54 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.5 million, a decline of 85.2% from ¥16.9 million in the prior-year period.

The normalized profit margin declined to 0.3% from 2.2% in the year-earlier period.

Total revenue climbed 7.8% on an annual basis to ¥817.0 million from ¥758.0 million, and total operating expenses rose 11.2% year over year to ¥816.0 million from ¥734.0 million.

Reported net income declined 96.0% year over year to ¥1.0 million, or 9 sen per share, from ¥25.0 million, or ¥2.29 per share.

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