eAccess books rise in FY profit, revenue

13 May 2011

Japanese telecoms group eAccess reported a rise in revenue and net income for its full-year ended 31 March 2011. The group posted turnover of JPY181 billion (USD2.2 billion) in the period under review, up sharply on JPY83.1 billion in the previous year, and pre-tax profit of JPY99.9 billion, up from JPY34.0 billion previously. Meanwhile net profits rose more than three-fold from JPY4.15 billion to JPY14.6 billion, it said. In April this year eAccess completed the absorption-type merger of its wholly owned cellular subsidiary eMobile. The merger falls under a ‘simplified merger’ clause set forth in Article 796, Paragraph 3 of the Companies Act for eAccess, and a ‘short form merger’ clause set forth in Article 784, Paragraph 1 of the Companies Act for eMobile. Following the merger, the company has streamlined its business structure, reducing the total number of operating divisions from 15 to six.