ACCA’s net income surges 400% in 1H, despite falling revenues

21 Aug 2007

Japanese broadband internet service provider ACCA Networks, whose major shareholders include NTT Communications Corporation, Mitsui & Co, eAccess, Daiwa Securities Group, IT2000 Investment Business Limited Liability Partnership and Morgan Stanley & Co, has reported a 406.1% rise in year-on-year net income after tax (NIAT) to JPY1.15 billion (USD million), from JPY227 million in the corresponding year earlier period, despite an 8.4% fall in revenues from JPY19.81 billion to JPY18.14 billion. Operating profits were up 9.9% year-on-year from JPY1.06 billion to JPY1.16 billion as the ISP reported sales of JPY3.43 billion (+3.9%) from its corporate business and JPY14.02 billion (-13.8%) from its consumer business. Corporate subscribers reached the 50,000 mark at the end of June, while ACCA also reported 1.03 million residential users.