HouseFreedom Co. Ltd. said its second-quarter normalized net income came to 91 Japanese sen per share, a decrease of 87.5% from ¥7.30 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.8 million, a decrease of 87.5% from ¥30.0 million in the year-earlier period.

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

Total revenue came to ¥1.60 billion, compared with ¥1.60 billion in the year-earlier period, and total operating expenses increased year over year to ¥1.59 billion from ¥1.54 billion.

Reported net income decreased 96.3% year over year to ¥1.0 million, or 24 sen per share, from ¥27.0 million, or ¥6.57 per share.

As of Aug. 12, US$1 was equivalent to ¥100.91.