Internet portal Yahoo! Japan Corp said today its group net profit rose to 5.9 billion yen (€51 million) in the year to March 31st.
No consolidated figure for the previous year was available because Yahoo! Japan had switched from reporting its earnings on a parent-only basis, but the result was double the parent-only net profit of 2.9 billion yen posted last year.
The rise reflected a huge jump in sales to 31.5 billion yen, mostly due to its introduction last September of cut-rate asymmetrical digital subscriber line (ADSL) service "Yahoo! BB", which enables much faster connections to the Internet.
The figures were largely in line with consensus forecasts by Multex for a net profit of 5.62 billion yen on sales of 30.16 billion yen.
The company is owned 32.2 per cent by US portal Yahoo! Inc and 50.5 per cent by Japanese investment group Softbank Corp