Earnings: Yahoo Japan Income Up 18 Percent; No Talks With Yahoo On Stake Sale
This story was written by Joseph Weisenthal.
With Yahoo (NSDQ: YHOO) chatting openly about the possibility of liquidating its Asian assets, the value of Yahoo Japan becomes more significant. The firm, partially owned by both Yahoo and Softbank, said net profit in the June quarter was up 18 percent to 19.16 billion yen ($177.6 million), which was in line with previous forecasts, according to WSJ. Echoing some of what's going on here, the company cited a sluggish economy and slow display/paid search ads in its results. On the future of the company, Chief Executive Masahiro Inoue said he hadn't had talks with either Yahoo or Softbank. If Yahoo does decide to sell its stake, Softbank would have the first right to buy its shares. More details can be found in the earnings presentation here (.pdf).
By Joseph Weisenthal