News from Japan.(stock split) TOKYO (Reuters) - Japan's number-one Internet search directory Yahoo! Japan said Friday its quarterly profit for the October-December period jumped more than five-fold from a year earlier, aided by strong advertising revenues.
The popular Japanese-language Internet portal also announced a two-for-one share split as of March 31, to make the stock, one of Japan's most prominent Web-related issues, more accessible to eager investors.
Even before the announcement, Yahoo! Japan shares, traded on the over-the-counter market, had risen by their daily limit of 2 million yen ($18,900), or 2.14 percent, to a record 95.4 million yen, the latest jump in a stunning 29-fold increase from a year ago.
"The share split will be positive for Yahoo! Japan shares by improving their supply and demand in the market," said Makoto Ueno, senior analyst at Daiwa Institute of Research. This will be the company's third two-for-one share split in the past year.