Internet portal Z Holdings Corp. said Thursday it posted sales of over ¥1 trillion for the year ended in March, the first such feat in its history including the time before its name change from Yahoo Japan Corp. in October last year.
Sales rose 10.3 percent from the previous year to ¥1.05 trillion thanks partly to the company’s acquisition last year of online fashion retailer Zozo Inc.
Z Holdings’ operating and net profits posted the first growth in four years. Operating profit rose 8.4 percent to ¥152.2 billion and net profit gained 3.8 percent to ¥81.6 billion.
The company refrained from releasing an earnings projection for the year to March 2021, citing an uncertain outlook amid the coronavirus pandemic.
But it said authorities’ stay-at-home requests over the pandemic have led to higher online goods sales.
“Online transactions of goods continued to increase in April,” Kentaro Kawabe, Z Holdings’ president and chief executive officer, told a news conference.