Ichishin Holdings Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 came to a loss of ¥51.22 per share, compared with a loss of ¥55.58 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥462.5 million, compared with a loss of ¥501.9 million in the prior-year period.

The normalized profit margin fell to negative 13.7% from negative 13.5% in the year-earlier period.

Total revenue declined 9.2% year over year to ¥3.37 billion from ¥3.71 billion, and total operating expenses decreased 8.9% on an annual basis to ¥4.11 billion from ¥4.51 billion.

Reported net income totaled a loss of ¥789.0 million, or a loss of ¥87.37 per share, compared to a loss of ¥453.0 million, or a loss of ¥50.16 per share, in the year-earlier period.

As of July 15, US$1 was equivalent to ¥101.70.