Gamecard-Joyco Holdings Inc. said its normalized net income for the fiscal first quarter ended June 30 was ¥26.99 per share, a decline of 38.8% from ¥44.08 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥385.0 million, a decline of 38.8% from ¥628.8 million in the year-earlier period.

The normalized profit margin dropped to 6.3% from 7.2% in the year-earlier period.

Total revenue fell 29.4% on an annual basis to ¥6.13 billion from ¥8.68 billion, and total operating expenses declined 28.4% on an annual basis to ¥5.52 billion from ¥7.70 billion.

Reported net income fell 42.9% on an annual basis to ¥352.0 million, or ¥24.68 per share, from ¥616.0 million, or ¥43.19 per share.

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