Sotoh Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥12.15 per share, a decline of 19.9% from ¥15.17 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥154.6 million, a decline of 19.9% from ¥193.1 million in the year-earlier period.

The normalized profit margin declined to 4.7% from 5.9% in the year-earlier period.

Total revenue grew on an annual basis to ¥3.29 billion from ¥3.25 billion, and total operating expenses climbed year over year to ¥3.07 billion from ¥2.97 billion.

Reported net income declined 31.5% year over year to ¥170.0 million, or ¥13.36 per share, from ¥248.0 million, or ¥19.49 per share.

As of Nov. 13, US$1 was equivalent to ¥122.78.