Niitaka Co. Ltd. said its normalized net income for the fiscal first quarter ended Aug. 31 came to ¥9.42 per share, a decline of 20.5% from ¥11.86 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥55.6 million, a decline of 20.5% from ¥70.0 million in the year-earlier period.
The normalized profit margin dropped to 1.7% from 2.2% in the year-earlier period.
Total revenue rose year over year to ¥3.27 billion from ¥3.17 billion, and total operating expenses increased year over year to ¥3.19 billion from ¥3.06 billion.
Reported net income declined 23.5% on an annual basis to ¥52.0 million, or ¥8.81 per share, from ¥68.0 million, or ¥11.52 per share.
As of Oct. 14, US$1 was equivalent to ¥107.05.
