IIJ reports 9.9% growth in profit to JPY2bn in 1H13

11 Nov 2013

Japanese broadband and network services provider Internet Initiative Japan (IIJ) has published its financial results for the six months ended 30 September 2013 (1H FY2013) reporting a 6.4% surge in revenue year-on-year to JPY54.397 billion (USD554.41 million). The company experienced stable growth in net profit, which reached JPY2.205 billion at end-September 2013, a 9.9% improvement on the JPY2.007 billion reported in 1H FY2012. Revenue generated by broadband services and system integration (SI) business dominated the total turnover, amounting to JPY53.296 billion in end-September 2013, up from JPY50.311 billion in 1H12, while the company’s ATM business contributed JPY1.358 billion in the period under review. IIJ reported adjusted EBITDA of JPY7.247 billion at 30 September 2013, an 5.0% increase on the JPY6.902 billion reported in the corresponding period of 2012, while CAPEX decreased by 21.3% y-o-y to JPY4.647 billion. IIJ CEO Koichi Suzuki commented: ‘1H13 revenue reflects strong systems integration demand. The results didn’t exceed our interim target as certain large SNS and telecoms clients decreased their network service usage. Weak operating income was due to the increase in expenses as we expand business both domestically and internationally while the revenue suffered from the above individual factor.’

Japan, Internet Initiative Japan (IIJ)