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To: Glenn D. Rudolph who wrote (67635)	7/14/1999 7:54:00 AM
From: Robert Rose	Respond to of 164684

Wednesday July 14, 7:09 am Eastern Time Yahoo Japan profits soar with advertising boost By Yuko Inoue TOKYO, July 14 (Reuters) - Japan's number-one Internet search directory Yahoo Japan Corp on Wednesday reported an almost eight-fold rise in its April-June quarterly earnings from a year earlier, aided by strong advertising revenues. Operating profit at Yahoo Japan, owned by Softbank Corp of Japan and Yahoo! Inc, jumped to a record 260 million yen ($2.15 million) for the quarter from 33 million yen a year before. Yahoo Japan President Masahiro Inoue said advertising revenues had tripled to 724 million yen during the quarter. ''This is a healthy gain, although the Internet advertising market in Japan is still a fraction of what it should be,'' Inoue told a news conference. Japan had 17 million Internet users at the end of March, the second-largest number in the world after the United States, but Japan's largest advertising agency Dentsu Inc estimates that companies earmarked only 11.4 billion yen for Internet advertising in 1998. Inoue said the Japanese market for Internet advertising could grow to one trillion yen by 2005. Yahoo Japan's share price closed 4.21 percent higher at 49.5 million yen on Wednesday on the over-the-counter market. The earnings results were announced after the close of regular trading. ''Investors who want to take part in the Internet boom throng to Yahoo,'' said Akira Kajikawa, Yahoo Japan's chief financial officer. ''In the U.S., there are some 100 Internet-related issues, but here, we're the only one making a success of things as a genuine Internet service provider.'' Yahoo Japan's share price almost doubled in just two days in early April, hitting a record high of 60 million yen on April 9, fuelled by better-than-expected first-quarter results at Yahoo! in the United States, which owns 34.2 percent of Yahoo Japan. The meteoric rise has made analysts cautious. ''It's now a speculators' toy,'' said Makoto Ueno, analyst at Daiwa Institute of Research. Yahoo Japan also announced on Wednesday that it would carry out a two-for-one share split on November 19 for those holding shares as of September 30, in order to boost liquidity in its shares and tame volatile price moves. This follows a two-for-one split this spring aimed at making the stock more accessible to individual investors. Yahoo Japan is currently Japan's most popular portal provider with the highest level of audience reach, viewership and advertising revenue. The firm said it registered an average of 30 million page views a day in July, way ahead of its closest rival Goo, which had fewer than 10 million.