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Monday, 22 October, 2001, 09:55 GMT 10:55 UK
Yahoo Japan's profits double
Front page of Yahoo BB
Yahoo BB was launched in the summer
Yahoo Japan's profits have doubled as demand for high speed internet access service offset a decline in advertising revenue.

Yahoo Japan, the biggest internet portal, launched the high-speed internet access service, branded Yahoo! BB, in the summer.

The service, based around asymmetric digital subscriber line (ADSL) technology, is more than 100 times faster than conventional internet connections.

Yahoo Japan and its parent firm Softbank launched Yahoo! BB in a drive to challenge existing internet providers, including former state monopoly Nippon Telegraph & Telephone (NTT).

The launch of the product was, because of technical problems, pushed back by a month from mid-June.

Shares cheer

Operating profit at Yahoo hit 4.16bn yen in the six months to September, nearly double the figure of a year before, while net profits climbed 103.7% to 2.39bn yen.

Yahoo Japan, in which Yahoo Inc has a 32.3% stake, is the first of several major Japanese technology firms to report financial results this week.

Others due to issue their figures include Fujitsu and consumer electronics giant Sony, semiconductor group Toshiba and chip testing device maker Advantest.

Monday's statement sent shares in Yahoo Japan and Softbank higher.

See also:

30 Jul 01 | Business
Yahoo Japan's broadband trouble
11 Jul 01 | Business
Yahoo boost for tech investors
19 Jun 01 | Business
Yahoo Japan to launch ISP
17 Apr 01 | Business
Yahoo names new chief
16 Feb 01 | Business
Yahoo bosses quit
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