Yahoo! Japan posts record profits

Yahoo! Japan posts record profits

Yahoo! Japan has posted record profits for the fiscal second quarter. The company continues to gain from improvements in online advertisement and auctions.

Yahoo! Japan has posted a 22.1 percent jump in net profit to 13.60 billion yen in the most recent quarter. These profits are on revenues which itself rose 24.5 percent from a year earlier to 51.20 billion yen.

The company further said that its operating profit increased 31.5 percent to 25.01 billion yen.

Yahoo! Japan president and chief executive Masahiro Inoue said in a statement on these revenue figures: “Although advertising demand normally sags during the summer vacation period, we managed to win new clients in sectors such as property and construction, allowing us to see sustained growth in this business. As a result of the sustained growth of the advertising business, we managed to post all-time high profits and sales.”