Nishimatsuya Chain Co. Ltd. said its normalized net income for the fiscal first quarter ended May 20 came to ¥16.04 per share, a decline from ¥16.53 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.06 billion, a decrease from ¥1.10 billion in the prior-year period.

The normalized profit margin declined to 3.2% from 3.5% in the year-earlier period.

Total revenue grew 6.6% year over year to ¥33.76 billion from ¥31.66 billion, and total operating expenses climbed 7.1% from the prior-year period to ¥32.10 billion from ¥29.96 billion.

Reported net income fell on an annual basis to ¥996.0 million, or ¥15.00 per share, from ¥1.02 billion, or ¥15.32 per share.

As of July 3, US$1 was equivalent to ¥102.19.