Bunkyodo Group Holdings Co. Ltd. said its normalized net income for the fiscal third quarter ended May 31 was 59 Japanese sen per share, a decrease of 54.5% from ¥1.30 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥8.3 million, a decline of 54.5% from ¥18.1 million in the year-earlier period.

The normalized profit margin dropped to 0.1% from 0.2% in the year-earlier period.

Total revenue decreased on an annual basis to ¥8.58 billion from ¥8.70 billion, and total operating expenses decreased on an annual basis to ¥8.57 billion from ¥8.70 billion.

Reported net income totaled a loss of ¥91.4 million, or a loss of ¥6.54 per share, compared to income of ¥13.5 million, or 97 sen per share, in the year-earlier period.

As of July 15, US$1 was equivalent to ¥123.95.