Lawson Inc. said its normalized net income for the fiscal first quarter ended May 31 was ¥102.16 per share, a gain of 13.6% from ¥89.93 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥10.22 billion, a gain of 13.6% from ¥9.00 billion in the year-earlier period.

The normalized profit margin rose to 8.7% from 7.5% in the year-earlier period.

Total revenue declined on an annual basis to ¥117.13 billion from ¥119.50 billion, and total operating expenses fell from the prior-year period to ¥100.31 billion from ¥105.19 billion.

Reported net income grew 26.5% on an annual basis to ¥9.10 billion, or ¥90.91 per share, from ¥7.19 billion, or ¥71.89 per share.

As of July 9, US$1 was equivalent to ¥101.69.