Internet Initiative Japan, Inc. (IIJIY), a Japanese internet service provider, on Monday registered a decline in net profit for the first-half, amidst higher expenses. However, the company posted an improvement in revenue.
In addition, Internet Initiative Japan has confirmed its full-year 2024 guidance.
For the six-month period to September 30, the internet provider recorded a net income of 8.409 billion yen or 46.53 yen per share, lesser than 8.740 billion yen or 47.58 yen per share, registered for the same period of 2022.
Pre-tax income was at 12.552 billion yen as against last year's 12.858 billion yen.
Operating income, however, moved up to 12.080 billion yen from 11.173 billion yen a year ago.
Finance expenses stood at 327 million yen, compared with previous year's 279 million yen, which included interest expenses of 296 million yen, higher than last year's 266 million yen.
Share of loss of investments accounted for using equity method was 273 million yen, higher than loss of 78 million yen in 2022, mainly due to loss of DeCurret Holdings, Inc. of 249 million yen as against a loss of 180 million yen a year ago.
Other operating expenses stood at 138 million yen, compared with 31 million yen in 2022.
Total cost of sales rose to 99.009 billion yen from last year's 95.471 billion yen.
Selling, general and administrative expenses were at 17.041 billion yen, versus last year's 15.508 billion yen.
Revenue improved to 128.198 billion yen from previous year's 121.962 billion yen.
Looking ahead, for the 12-month period to March 31, 2024 or full year, the company still expects to post a net profit of 20.720 billion yen or 116.82 yen per basic share, a growth of 9.9 percent from last year.
Internet Initiative Japan continues to project an operating income of 31.500 billion yen, up 15.7 percent from 2022.
The company aims to record revenue of 286 billion yen, a growth of 13.2 percent from the prior year.
For full year, the company intends to pay a total dividend of 34.36 yen per share, which includes a year-end dividend of 17.18 yen per share.
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