Internet Initiative Japan (IIJ), an internet access and network solutions provider in Japan, reports that net profit for its fiscal first quarter ending 30 June 2010 climbed 36.8% year-on-year to JPY247 million (USD2.90 million) from JPY180 million in the corresponding period of 2009. Total revenues reached JPY15.81 billion, down marginally from JPY15.84 billion a year ago, while operating income slumped 24.3% to JPY266 million, down from JPY351 million previously. Nevertheless, IIJ confirmed its full year forecast of net income of JPY3 billion on turnover of JPY85.40 billion.
IIJ also hopes to complete a deal to acquire the subsidiary of AT&T Japan by 1 September 2010 it said, and believes this acquisition will broaden the basis of its business growth. As reported in CommsUpdate, in June this year IIJ signed a stock purchase agreement with AT&T Japan, under which it agreed to acquire the stock of the new company established by AT&T in Japan. Through the acquisition, IIJ will make AT&T Japan a 100% wholly owned subsidiary and take over the latter’s business – the delivery of domestic network outsourcing services (e.g. WAN services) to approximately 1,600 domestic corporate customers. AT&T Japan provides global connectivity services and managed applications to customers business in Japan, with an advanced portfolio of hosting and other value added services activities such as mobile enterprise applications, cloud computing, application management, security, Telepresence and unified communications.