Ginza Renoir Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥10.56 per share, a decrease of 19.7% from ¥13.16 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥65.0 million, a decline of 19.4% from ¥80.6 million in the prior-year period.

The normalized profit margin dropped to 3.4% from 4.5% in the year-earlier period.

Total revenue rose 6.4% on an annual basis to ¥1.90 billion from ¥1.79 billion, and total operating expenses rose 8.0% from the prior-year period to ¥1.80 billion from ¥1.67 billion.

Reported net income decreased 14.6% year over year to ¥63.7 million, or ¥10.34 per share, from ¥74.5 million, or ¥12.16 per share.

As of Aug. 13, US$1 was equivalent to ¥124.46.