Yahoo Japan Corp. said Wednesday its second-quarter net profit jumped 46 percent to 8.64 billion yen, buoyed by continued growth in advertising revenue.
For the July-September period, the firm, 42 percent owned by Softbank Corp., posted a 51 percent increase in revenue to 26.48 billion yen.
The firm’s robust performance was driven by strong growth in ad revenue, which shot up 71 percent year-on-year to a record 8.39 billion yen during the quarter.
Summer is traditionally a weak period for the ad market, but this year’s hot summer brought more business from beverage makers, the company said.
Overall, it saw increased ad sales from big-budget companies such as automakers, entertainment software makers and real estate firms.
By category, its listing business saw buoyant growth in revenue and earnings. The company started job-hunting sites with Recruit Co. Its Internet auction and shopping businesses also posted strong revenue growth.
Yahoo Japan Chief Executive Masahiro Inoue told a news conference that the firm will actively spend on hiring staff and capital investment to respond to a growing Internet population propelled by high-speed access.
Asked about the bid by parent firm Softbank for the Fukuoka Daiei Hawks baseball team, Inoue said the two companies have not yet had any talks on the matter.
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