Wacoal Holdings Corp. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥32.64 per share, a decrease of 36.1% from ¥51.07 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.30 billion, a decline of 36.1% from ¥3.60 billion in the year-earlier period.

The normalized profit margin dropped to 5.0% from 7.5% in the year-earlier period.

Total revenue declined year over year to ¥46.01 billion from ¥47.96 billion, and total operating expenses totaled ¥42.74 billion, compared with ¥42.92 billion in the prior-year period.

Reported net income fell 15.3% on an annual basis to ¥3.02 billion, or ¥42.82 per share, from ¥3.57 billion, or ¥50.60 per share.

As of Aug. 12, US$1 was equivalent to ¥102.19.