Nihon Seima Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥1.57 per share, a decrease of 55.3% from ¥3.51 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥5.8 million, a decrease of 55.3% from ¥12.9 million in the year-earlier period.

The normalized profit margin fell to 0.5% from 1.2% in the year-earlier period.

Total revenue grew 12.9% year over year to ¥1.19 billion from ¥1.05 billion, and total operating expenses increased 10.3% year over year to ¥1.13 billion from ¥1.03 billion.

Reported net income rose year over year to ¥4.0 million, or ¥1.09 per share, from ¥1.0 million, or 27 sen per share.

As of Aug. 13, US$1 was equivalent to ¥102.37.