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Technology Stocks : Oracle Corporation (ORCL) -- Ignore unavailable to you. Want to Upgrade?

To: JackC2 who wrote (14217)	7/18/2000 11:09:25 AM
From: Sarkie	Read Replies (1) \| Respond to of 19080

Oracle Japan enjoys 30 pct profit jump By Miki Shimogori TOKYO, July 18 (Reuters) - Oracle Corp Japan , a unit of the world's largest maker of database management software Oracle Corp , on Tuesday unveiled nearly 30 percent jump in its full year profit, aided by Japan Inc's drive to go online. Brisk demand for relational database management systems, fuelled by the popularity of the Internet and e-commerce, contributed to a 29.2 percent increase in its parent current profit to a record 20.11 billion yen ($186 million) in the year ended on May 31. Current profit is pre-tax and includes profits and losses from non-operational activities such as stock investment. Sales for the year also grew about 20 percent to a record 65.77 billion yen, with those for systems support services scoring solid sales growth of 40 percent year-on-year, it said. With a market value of 3.8 trillion yen, Oracle Japan is viewed as a core high-tech stock in Japan, although it has lost 12 percent of its value since the start of this year due to a recent correction in global high-tech stocks. Oracle Japan, which debuted on the Tokyo bourse in late April, ended down 1.16 percent at 29,700 yen on Tuesday, in line with an overall bearish trend in the market. Looking ahead, Oracle Japan predicted a healthy 22 percent rise in current profit for the business year to next May, although profit growth would be slowed by the costs for starting new business. "With signs of steady recovery in Japan's economy, we expect solid expansion in the software and service market in Japan in line with recovering corporate demand for information system investment," it said in a statement, adding that it would step up sales of solution and other service business. The earnings announcement came one day after Oracle Japan unveiled a high-profile e-commerce alliance with Japan's largest data communications services firm, NTT Data Corp . The two aim to create new business-to-business (B2B) e-commerce markets in six key industries, such as housing, construction, pharmaceuticals and telecoms. NTT Data, a unit of Nippon Telegraph and Telephone Corp , and Oracle Japan may consider forming a joint operating body to enhance their expansion, they said in a statement. Although Japan has long lagged the United States in Internet access and e-commerce, the market has begun to bloom, with the country's Internet population doubling in 1999 to 27 million -- one in five Japanese. The number of users is expected to triple by 2005 to 76.7 million -- three-fifths of Japan's population. The Internet market for finished goods is projected to rise 20-fold by 2005 from 350 billion yen in 1999.