IIJ net profit slumps 16.2% to JPY4.4bn in FY2013

15 May 2014

Japanese broadband and network services provider Internet Initiative Japan (IIJ) has published its financial results for the fiscal year ended 31 March 2014 (FY2013) reporting a 7.6% surge in revenue year-on-year, to JPY114.272 billion (USD1.121 billion). The company has, however, experienced a drop in net profit, which slumped 16.2% to JPY4.442 billion at end-March 2014, compared to the JPY4.500 billion reported in FY2012. Revenue generated by the network services and system integration (SI) business dominated the total turnover, amounting to JPY111.901 billion by end-March 2014, up from JPY104.487 billion in 1Q13, while the company’s ATM business contributed JPY2.827 billion in the period under review. IIJ reported adjusted EBITDA of JPY14.546 billion at 31 March 2014, a 4.98% decrease on the JPY15.309 billion reported in the corresponding period of 2013, while CAPEX increased by 20.7% y-o-y to JPY12.560 billion.

IIJ CEO Koichi Suzuki commented: ‘Our businesses’ bases have been largely strengthened with several unconventional transactions in FY2013, while income results were weak mainly due to certain large customers’ revenues levelling off, as we reported in [our] Q3 earnings. We have pursued some progressive large-scale projects by leveraging our cloud facilities and services, mobile virtual network operator (MVNO) infrastructure and system integration features. We strongly believe these projects should contribute to our continuous revenue and income growth for the coming few years.’

Japan, Internet Initiative Japan (IIJ),

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