Kan-Nanmaru Corp. said its normalized net income for the fiscal third quarter ended March 31 was 98 Japanese sen per share, a decrease of 71.4% from ¥3.44 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.8 million, a decrease of 71.4% from ¥13.1 million in the prior-year period.

The normalized profit margin declined to 0.3% from 0.9% in the year-earlier period.

Total revenue decreased 6.9% on an annual basis to ¥1.30 billion from ¥1.40 billion, and total operating expenses fell 6.1% on an annual basis to ¥1.30 billion from ¥1.38 billion.

Reported net income came to a loss of ¥4.0 million, or a loss of ¥1.05 per share, compared to income of ¥5.0 million, or ¥1.31 per share, in the year-earlier period.

As of May 13, US$1 was equivalent to ¥109.14.