Internet Initiative Japan H1 Profit Climbs, Lifts FY21 Forecast, Dividend View; Stock Up

(RTTNews) - Internet Initiative Japan Inc. or IIJ (IIJIY), an Internet related network services provider, reported Monday that its first-half profit attributable to owners of the parent grew 57.7 percent to 43.8 percent to 2.77 billion Japanese yen from last year's 1.76 billion yen.

Operating profit climbed 56.3 percent year-over-year to 5.24 billion yen.

Total revenues increased 2.5 percent to 101.67 billion yen from 99.22 billion yen a year ago.

Looking ahead for fiscal year ending March 31, 2021, the company now projects attributable profit of 6.1 billion yen, up 52.2 percent from last year, operating profit of 11.3 billion yen, up 37.4 percent from last year, and revenues of 212 billion yen, up 3.7 percent from the prior year.

The company previously expected attributable profit of 5 billion yen, operating profit of 8.70 billion yen, and revenues of 210 billion yen.

Eijiro Katsu, COO and President of IIJ., said, "Along with the profit growth, we increased both interim and year-end cash dividend forecast and also announced the 2-for-1 stock split."

Annual Cash Dividend would be 41 yen per share of common stock, compared to previous forecast of 34 yen per share.

In Japan, Internet Initiative shares were trading at 5,280 yen, up 8.5 percent.