Amagasa Co. Ltd. said its normalized net income for the fiscal third quarter ended Oct. 31 was ¥24.49 per share, a decline of 45.9% from ¥45.28 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥45.6 million, a decline of 45.9% from ¥84.4 million in the year-earlier period.

The normalized profit margin dropped to 2.4% from 4.1% in the year-earlier period.

Total revenue decreased 7.2% year over year to ¥1.89 billion from ¥2.03 billion, and total operating expenses declined from the prior-year period to ¥1.82 billion from ¥1.89 billion.

Reported net income declined 59.3% from the prior-year period to ¥33.0 million, or ¥17.71 per share, from ¥81.0 million, or ¥43.47 per share.

As of Dec. 11, US$1 was equivalent to ¥121.00.