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Internet Initiative Japan Inc. (“IIJ”) has announced its consolidated financial results for the first quarter (1Q23) of the fiscal year ending March 31, 2024. Under International Financial Reporting Standards (IFRS), IIJ reported total revenues of JPY 61.4 billion, representing a 5.6% year-over-year increase.

During the first quarter, IIJ experienced growth in network services revenues, excluding mobile services, which grew by 11.1% year-over-year. Operating profit slightly decreased by 0.5% year-over-year.

IIJ highlighted the shift in legacy Japanese enterprises’ internal networks to more complex and combined networks with the adoption of internet technologies. This has led to increasing business opportunities for IIJ to acquire large-scale network replacement projects. The company offers a range of internet-related network services, including cybersecurity services and systems integration.

Despite not recognizing significant system construction transactions in 1Q23, IIJ’s order received and order backlog for system construction and equipment sales showed substantial growth. The company expects to recognize approximately JPY 3 billion in one-time revenues for an overseas data center construction transaction in 2Q23.

IIJ has focused on strengthening its human resources to meet growing demands and accelerate business expansion. The company recruited 246 new graduates, representing a 1.4 times increase compared to the previous year.

Although profit before tax and net profit decreased year-over-year, IIJ believes that its business areas are structurally expanding, which will result in a significant increase in its business scale.

In May, IIJ established a new shareholder structure by inviting KDDI as one of its largest shareholders, along with NTT Group. Two major telecom carriers in Japan becoming major shareholders is expected to strengthen IIJ’s business.

Overall, IIJ’s financial results for 1Q23 demonstrate growth in revenues and a focus on expanding its business in the Japanese market.

The post TOKYO, Aug. 08, 2023 – Internet Initiative Japan Inc. (“IIJ”) Reports Q1 Financial Results appeared first on satProviders.