Doshisha Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥24.41 per share, an increase from ¥24.15 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥910.1 million, a gain from ¥900.5 million in the prior-year period.

The normalized profit margin increased to 3.8% from 3.7% in the year-earlier period.

Total revenue decreased on an annual basis to ¥23.77 billion from ¥24.20 billion, and total operating expenses declined year over year to ¥22.24 billion from ¥22.80 billion.

Reported net income rose 5.0% from the prior-year period to ¥988.0 million, or ¥26.49 per share, from ¥941.0 million, or ¥25.23 per share.

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