Internet Initiative Japan 9M Results Climb; Maintains FY21 View; Stock Down

(RTTNews) - Internet Initiative Japan Inc. (IIJIY) or IIJ, an Internet-related network services provider, reported Tuesday that its nine-month profit attributable to owners of parent was 11.5 billion yen, up 96.1 percent from last year's 5.88 billion yen.

Operating profit was 16.3 billion yen, up 61 percent from the previous year.

Total revenues for the period grew 6.1 percent to 165.6 billion yen from 156.07 billion yen last year .

Looking ahead for fiscal 2021, the company continues to expect attributable net profit of 13.7 billion yen, up 41.1 percent from last year; operating profit of 22 billion yen, up 54.4 percent; and revenues of 228.5 billion yen, up 7.3 percent year-over-year.

The company noted that although profits for the nine-month period exceeded expectation, the full-year targets remain unchanged as the fourth quarter results, which tend to be strong due to seasonal factors, affect the full year financial results considerably.

In Japan, Internet Initiative Japan shares were trading at 3,680 yen, down 5.40 percent.