YAHOO JAPAN'S APRIL-JUNE PRETAX PROFIT GAINS 5% ON LOWER COSTS

Wed. July 29, 2009; Posted: 12:30 AM

TOKYO, Jul 29, 2009 (AsiaPulse via COMTEX) -- YAHOF | Quote | Chart | News | PowerRating -- Yahoo Japan Corp. (TSE:4689) reported Tuesday that its group pretax profit rose 5 per cent on the year to 34 billion yen (US$359.7 million) in the April-June quarter thanks to cost-cutting measures that offset falling advertising revenue.

Sales inched up 3 per cent to 67.6 billion yen.

Its advertising business saw sales dip 1 per cent to 33.2 billion yen, the segment's first revenue drop since the April-June quarter of 2002 following the rupturing of the dot.com bubble.

Demand for display-type advertising was particularly lackluster for financial products, real estate and autos. For search advertising, ad placements from human resource services firms and others declined. In the corporate services business, revenue from posts on its employment information Web site plunged 80 per cent.

Yahoo Japan's sales fell when excluding a roughly 3 billion yen boost from data center operations purchased from parent Softbank Corp. (TSE:9984) and its 51 per cent stake in the GyaO online video site acquired from Usen Corp. (TSE:4842).

Operating profit climbed 4 per cent to 34.2 billion yen. President Masahiro Inoue said "slashed waste in various areas" helped lift operating profit in the advertising division 6 per cent.

Yahoo Japan's consumer services business enjoyed increased revenue and profits. With consumers pinching pennies, auction prices and turnover fell, but were compensated for by an increase in fee-paying subscribers and a hike in the membership price.

Net profit only edged up slightly, to 19.2 billion yen, due to the booking of an extraordinary loss of 1.2 billion yen stemming from goodwill amortization expenses, securities valuation losses and other factors.

(Nikkei) bl

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