Naigai Co. Ltd. said its normalized net income for the fiscal first quarter ended April 30 came to a loss of ¥1.03 per share, compared with a loss of ¥8.79 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥8.5 million, compared with a loss of ¥72.3 million in the year-earlier period.

The normalized profit margin climbed to negative 0.2% from negative 1.9% in the year-earlier period.

Total revenue totaled ¥3.78 billion, compared with ¥3.79 billion in the prior-year period, and total operating expenses declined from the prior-year period to ¥3.82 billion from ¥3.90 billion.

Reported net income came to a loss of ¥25.0 million, or a loss of ¥3.04 per share, compared to a loss of ¥124.0 million, or a loss of ¥15.09 per share, in the year-earlier period.

As of June 15, US$1 was equivalent to ¥123.50.