Can Do Co. Ltd. said its normalized net income for the fiscal second quarter ended May 31 came to ¥14.48 per share, a decline of 28.6% from ¥20.29 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥235.0 million, a decrease of 29.3% from ¥332.5 million in the year-earlier period.

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

Total revenue came to ¥16.55 billion, compared with ¥16.59 billion in the year-earlier period, and total operating expenses totaled ¥16.22 billion, compared with ¥16.08 billion in the prior-year period.

Reported net income declined 18.7% year over year to ¥127.0 million, or ¥7.83 per share, from ¥156.3 million, or ¥9.53 per share.

As of July 14, US$1 was equivalent to ¥123.44.