Sat, Jul 19, 2003 - Page 10 News List

Yahoo will join JASDAQ


Yahoo Japan Corp, which runs Japan's leading Internet portal, announced yesterday it has applied for listing on the Tokyo Stock Exchange, more than five years after its initial public sale of shares.

The company, an affiliate of Japan's Softbank Corp and Yahoo Inc of the US, said in a statement it submitted an application to the exchange on July 8.

Analysts said the company, which first listed on Japan's JASDAQ over-the-counter market in November 1997, could debut on the TSE -- and delist from the JASDAQ -- as early as August.

After Japanese financial markets closed yesterday, Yahoo Japan said net profits for the April-June quarter more than doubled to Japanese Yen 4.54 billion (US$38.2 million), from Japanese Yen 2.18 billion in the same period a year earlier. The company attributed the rise to brisk sales from its online auction and broadband services.

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