SHO-BI Corp. said its normalized net income for the fiscal second quarter ended March 31 was ¥2.89 per share, a decrease of 61.7% from ¥7.55 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥38.8 million, a decline of 61.7% from ¥101.3 million in the year-earlier period.

The normalized profit margin dropped to 1.0% from 2.6% in the year-earlier period.

Total revenue fell year over year to ¥3.78 billion from ¥3.95 billion, and total operating expenses fell on an annual basis to ¥3.74 billion from ¥3.78 billion.

Reported net income decreased 80.3% on an annual basis to ¥15.0 million, or ¥1.12 per share, from ¥76.0 million, or ¥5.67 per share.

As of May 14, US$1 was equivalent to ¥119.24.