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IIJ Announces Nine Months Financial Results For The Fiscal Year Ending March 31, 2013

Stocks in this article: IIJI

Other income (expenses)

Other income (expenses) was an expense of JPY97 million (an expense of JPY218 million for 3Q11).

Income before income tax expenses

Income before income tax expenses was JPY4,946 million, up 30.8% YoY.

Net Income

Income tax expense was JPY1,954 million (JPY1,603 million for 3Q11).

Equity in net income of equity method investees was JPY131 million (JPY153 million for 3Q11) mainly due to net income of Internet Revolution, Inc. and Internet Multifeed Co.

As a result of the above, net income was JPY3,123 million, up 34.1% YoY (JPY2,330 million for 3Q11).

Net income attributable to IIJ

Net income attributable to non-controlling interests was JPY11 million (net loss of JPY60 million for 3Q11) mainly related to net income of Trust Networks Inc.

Net income attributable to IIJ was JPY3,112 million, up 30.2% YoY.

3Q FY2012 Financial Condition

Balance Sheets

As of December 31, 2012, the balance of total assets was JPY75,892 million, increased by JPY2,399 million from the balance as of March 31, 2012.

As for current assets as of December 31, 2012, as compared to the respective balances as of March 31, 2012, cash and cash equivalents decreased by JPY2,889 million mainly due to the payment of income tax and the repayment of bank borrowings, prepaid expenses increased by JPY1,394 million and inventories increased by JPY1,038 million, respectively. As for noncurrent assets, as compared to the respective balance as of March 31, 2012, property and equipment increased by JPY2,432 million, resulting from the investment in servers and network equipments for cloud computing service and others. As for current liabilities, as compared to the respective balance as of March 31, 2012, income tax payable decreased by JPY1,814 million.

As for the balances of capital lease obligations, as compared to the respective balances as of March 31, 2012, capital lease obligations-current portion increased by JPY460 million to JPY3,457 million and capital lease obligations-noncurrent increased by JPY841 million to JPY5,582 million, respectively. The balance of long-term borrowings including current portion as of December 31, 2012 was decreased to JPY1,990 million resulted from the repayment of JPY1,010 million.

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