Kaneko Seeds Co. Ltd. said its normalized net income for the fiscal first quarter ended Aug. 31 was ¥17.78 per share, a decline of 21.4% from ¥22.61 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥208.8 million, a decrease of 21.4% from ¥265.6 million in the year-earlier period.
The normalized profit margin dropped to 1.6% from 2.0% in the year-earlier period.
Total revenue declined on an annual basis to ¥12.88 billion from ¥13.48 billion, and total operating expenses declined year over year to ¥12.57 billion from ¥13.09 billion.
Reported net income fell 17.9% year over year to ¥211.0 million, or ¥17.97 per share, from ¥257.0 million, or ¥21.88 per share.
As of Oct. 10, US$1 was equivalent to ¥107.98.
