Fuji Oil Holdings Inc. said its normalized net income for the fiscal first quarter ended June 30 was ¥23.90 per share, a decrease from ¥24.54 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.05 billion, a decrease from ¥2.11 billion in the year-earlier period.

The normalized profit margin fell to 3.2% from 3.6% in the year-earlier period.

Total revenue grew 8.4% year over year to ¥63.80 billion from ¥58.83 billion, and total operating expenses increased 9.1% on an annual basis to ¥60.32 billion from ¥55.31 billion.

Reported net income increased 37.2% from the prior-year period to ¥2.89 billion, or ¥33.66 per share, from ¥2.11 billion, or ¥24.53 per share.

As of Aug. 12, US$1 was equivalent to ¥102.19.