Takihyo Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 came to ¥40.19 per share, an increase of 33.6% from ¥30.09 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥378.1 million, a gain of 33.8% from ¥282.5 million in the year-earlier period.

The normalized profit margin increased to 2.0% from 1.4% in the year-earlier period.

Total revenue decreased on an annual basis to ¥19.38 billion from ¥19.64 billion, and total operating expenses decreased from the prior-year period to ¥18.83 billion from ¥19.26 billion.

Reported net income rose 58.1% year over year to ¥429.1 million, or ¥45.60 per share, from ¥271.4 million, or ¥28.90 per share.

As of July 4, US$1 was equivalent to ¥102.07.