Saikaya Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 was ¥8.41 per share, a decline of 63.1% from ¥22.77 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥35.0 million, a decline of 62.2% from ¥92.5 million in the prior-year period.

The normalized profit margin dropped to 0.4% from 1.0% in the year-earlier period.

Total revenue decreased on an annual basis to ¥9.03 billion from ¥9.44 billion, and total operating expenses decreased on an annual basis to ¥8.91 billion from ¥9.22 billion.

Reported net income declined 68.9% year over year to ¥41.6 million, or ¥10.00 per share, from ¥134.0 million, or ¥33.00 per share.

As of July 11, US$1 was equivalent to ¥101.30.