Johnan Academic Preparatory Institute, Inc. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of ¥123.9 million.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 10.3%.

Total revenue came to ¥1.20 billion, and total operating expenses came to ¥1.40 billion.

Reported net income totaled a loss of ¥208.0 million, or a loss of ¥25.83 per share.

As of Aug. 14, US$1 was equivalent to ¥102.44.