Z Holdings' Annual Sales Exceed 1 T. Yen

Economy

Tokyo, April 30 (Jiji Press)--Japanese internet portal Z Holdings Corp. <4689> said Thursday it posted sales of over one trillion yen for the year ended in March, the first such feat in its history including the time before its name change from Yahoo Japan Corp. in October last year.

Sales rose 10.3 pct from the previous year to 1,052,943 million yen thanks partly to the company's acquisition last year of online fashion retailer Zozo Inc. <3092>.

Z Holdings' operating and net profits posted the first growth in four years. Operating profit rose 8.4 pct to 152,276 million yen, and net profit gained 3.8 pct to 81,675 million yen.

The company refrained from releasing an earnings projection for the year to March 2021, citing an uncertain outlook amid the coronavirus pandemic.

But it said authorities' stay-at-home requests over the pandemic have led to higher online goods sales.

[Copyright The Jiji Press, Ltd.]

Jiji Press