Atsugi Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 84 Japanese sen per share, a decline of 89.8% from ¥8.31 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥14.3 million, a decrease of 89.8% from ¥140.4 million in the year-earlier period.

The normalized profit margin dropped to 0.3% from 2.6% in the year-earlier period.

Total revenue rose on an annual basis to ¥5.62 billion from ¥5.42 billion, and total operating expenses increased 6.2% from the prior-year period to ¥5.72 billion from ¥5.39 billion.

Reported net income fell 77.6% year over year to ¥30.0 million, or ¥1.78 per share, from ¥134.0 million, or ¥7.94 per share.

As of Aug. 1, US$1 was equivalent to ¥102.47.