Yahoo Japan sees profit double

Yahoo Japan Corp. said Wednesday that its group profit more than doubled to 4.97 billion yen during the six-month period through September, thanks to steep growth at its broadband unit.

The 108.1 percent year-on-year burst came on a sharp rise in subscribers to its Yahoo!BB broadband service, which topped one million after growing by some 230,000 since the end of July, company officials said.

The company also said it saw a pickup in its Internet auction business in the July-September quarter after seeing a sharp drop following the introduction of participation fees in this spring. This helped improve the portal’s performance for the half-year period.

Consolidated sales came to 23.4 billion yen, up 96.9 percent from the same period the previous year, while group operating profits stood at 9.48 billion yen, logging a 127.7 percent rise.

Meanwhile, Yahoo Japan also said it has agreed with magazine publisher Recruit Co. to jointly develop an Internet businesses, starting with advertising services. The two firms already have separate tieups in other areas.