TOKYO, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Internet Initiative Japan Inc. (“IIJ”, TSE1: 3774) announced large differences between financial results for the six months ended September 30, 2020 and September 30, 2019 and revision of the full year financial targets for the fiscal year ending March 31, 2021 (April 1, 2020 to March 31, 2021).
1. Differences between Financial Results for the Six Months ended September 30, 2020 and September 30, 2019 (We disclose this information in the form defined and required by the Tokyo Stock Exchange)
| Revenues | Operating Profit | Profit before Tax | Profit for the period | Basic earnings per | |
| JPY millions | JPY millions | JPY millions | JPY millions | JPY | |
| For the six months | 99,220 | 3,352 | 3,043 | 1,756 | 38.96 |
| For the six months | 101,665 | 5,239 | 4,466 | 2,770 | 61.43 |
| Change (B-A) | 2,445 | 1,887 | 1,423 | 1,014 | -- |
| Change (%) | 2.5 | 56.3 | 46.7 | 57.7 | -- |
2. Revision for the Consolidated Financial Targets for FY2020 (From April 1, 2020 to March 31, 2021)
| Revenues | Operating Profit | Profit before Tax | Profit for the year | Basic earnings per | |
| JPY millions | JPY millions | JPY millions | JPY millions | JPY | |
| Previous Target (A) | 210,000 | 8,700 | 8,000 | 5,000 | 55.45 (*) |
| New Target (B) | 212,000 | 11,300 | 10,000 | 6,100 | 67.63 (*) |
| Change (B-A) | 2,000 | 2,600 | 2,000 | 1,100 | -- |
| Change (%) | 1.0 | 29.9 | 25.0 | 22.0 | -- |
| < Reference > | 204,474 | 8,225 | 7,159 | 4,007 | 88.88 |
(*) IIJ plans a stock split at a ratio of two-for-one effective from January 1, 2021. The above written targets of basic earnings per share are the amounts after the stock split. Regarding the pre-split amount, the target of basic earnings per share for FY2020 is JPY135.26 per share.
3. Reasons for Differences and Revision
For the six months ended September 30, 2020, our revenues and profit exceeded our expectations at the beginning of the fiscal year, due to the increase in demand for network systems of enterprises under the COVID-19 pandemic. Considering the results of revenue and profit for the six months ended September 30, 2020, we revised the full-year financial targets for FY2020 revenues, operating profit, profit before tax and profit for the year attributable to owners of the parent.
About Internet Initiative Japan Inc.
Founded in 1992, IIJ is one of Japan's leading Internet-access and comprehensive network solutions providers. IIJ and its group companies provide total network solutions that mainly cater to high-end corporate customers. IIJ's services include high-quality Internet connectivity services, mobile services, security services, cloud computing services, and systems integration. Moreover, IIJ operates one of the largest Internet backbone networks in Japan that is connected to the United States, the United Kingdom and Asia. IIJ listed on the First Section of the Tokyo Stock Exchange in 2006.