JICHODO Co. Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to ¥35.10 per share, a decline of 63.7% from ¥96.77 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥108.1 million, a decrease of 63.7% from ¥298.1 million in the year-earlier period.

The normalized profit margin dropped to 2.8% from 8.0% in the year-earlier period.

Total revenue climbed on an annual basis to ¥3.83 billion from ¥3.75 billion, and total operating expenses grew on an annual basis to ¥3.50 billion from ¥3.39 billion.

Reported net income decreased 18.3% from the prior-year period to ¥98.0 million, or ¥31.81 per share, from ¥120.0 million, or ¥38.95 per share.

As of May 14, US$1 was equivalent to ¥119.24.