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Livedoor Sees 3-Fold Sales Jump in 9-Month Period to June 30

Posted on: Thursday, 11 August 2005, 12:00 CDT

Aug. 11--TOKYO -- Internet business operator Livedoor Co. said Thursday its group sales in the first nine months of its 2005 business year saw a threefold jump from a year before to 52.28 billion yen due mainly to a 3.5-fold sales leap at its Internet-based financing business segment.

In a consolidated earnings report for the period from Oct. 1, 2004, to June 30, 2005, Livedoor said its net profit more than doubled to 4.70 billion yen.

But net profit per share in the period dived to 6.07 yen from 41.95 yen in the same period a year earlier as a result of a sharp increase in the number of the company's outstanding shares.

Pretax profit amounted to 5.20 billion yen, up 53.0 percent.

Livedoor traced the overall sales surge chiefly to robust performances at new subsidiaries such as accounting software provider Yayoi Co. that joined the group in December 2004 and Livedoor Securities Co. that provide online brokerage services.

In addition, Livedoor noted loan business at its money-lending arms, including Livedoor Credit Co., fared well.

Earlier this year, Livedoor waged a high-profile battle with Fuji Television Network Inc., the core of the Fujisankei Communications Group, for control of radio firm Nippon Broadcasting System Inc., raising concerns among numerous corporations about hostile takeover bids.

For the full year to Sept. 30, Livedoor left unchanged the earlier financial results projections it had released Nov. 18, 2004.

At that time, the company said it expects to post a consolidated net profit of 5.8 billion yen, a 1.6-fold rise from the previous year, and a pretax profit of 11.2 billion yen on sales of 78.3 billion yen.

On May 23, Fuji Television Network turned Nippon Broadcasting System into a subsidiary by acquiring a Livedoor unit that holds a 32.4 percent stake in the radio broadcaster for 67 billion yen.

The 67 billion yen gain was not booked as part of the nine-month profits. It was posted in the cash account in the Livedoor balance sheet's asset column.

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4676, NPBXF, 4660,

Source: Kyodo News International, Tokyo

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