TOKYO, JAPAN, U.S.A., 1999 APR 19 (NB) -- By Martyn Williams, Newsbytes. Yahoo Japan Corp. [TOKYO:4689] has reported full year results and said increasing advertising sales led to sharply higher profits. The company saw sales jump 50 percent in the year and operating profits rocket more than 173 percent.
For the complete fiscal year, which ended March 31, Yahoo Japan said sales were 50.4 percent higher at 1.91 billion yen (US$16.14 million). Operating profits jumped 173.3 percent to 399 million yen ($3.37 million), current profit was 198.5 percent higher at 391 million yen ($3.30 million) and net profit jumped 185.9 percent to 183 million yen ($1.55 million). Earnings per share was more than doubled to 27,068.24 yen ($228.71).
Advertising sales jumped 58 percent on the year to reach 1.43 billion yen ($12.08 million), representing 74.9 percent of total sales.
According to a recent survey by Japanese advertising agency Dentsu Inc., the domestic market for Internet advertising almost doubled in 1998 to be worth 11.39 billion yen ($96.24 million). The latest results from Yahoo Japan indicate that, assuming the Dentsu figures are correct, the company attracts around ten percent slice of all paid-for Internet advertising in Japan.
Based on the current rate of growth, Dentsu said it expects the market to be worth 19.80 billion yen ($167.30 million) in 1999.
Exchange rate: $1 = 118.35 yen
Reported By Newsbytes News Network, http://www.newsbytes.com
(19990419/WIRES ASIA, ONLINE, BUSINESS/)
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