Ocean System Corp. said its normalized net income for the fiscal first quarter ended June 30 came to ¥12.83 per share, a decrease of 18.2% from ¥15.68 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥126.3 million, a decline of 18.2% from ¥154.4 million in the prior-year period.
The normalized profit margin dropped to 1.1% from 1.4% in the year-earlier period.
Total revenue totaled ¥11.05 billion, compared with ¥11.02 billion in the prior-year period, and total operating expenses totaled ¥10.86 billion, compared with ¥10.79 billion in the prior-year period.
Reported net income declined 10.1% year over year to ¥124.0 million, or ¥12.60 per share, from ¥138.0 million, or ¥14.02 per share.
As of Aug. 12, US$1 was equivalent to ¥102.19.
