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Published on .

(April 20, 2001) -- While Yahoo! is struggling domestically, the portal is thriving in Japan. The company announced today that Yahoo! Japan's net profit hit a record 2.97 billion yen, or $24.49 million, in 2000-2001, a 158% increase, thanks to rising ad revenues.

Sales were up 129% in the year that ended in March, the company reported, as use of the Internet grew in the country. Yahoo! Japan is 50.8% owned by Japanese investor Softbank Corp. and 33.8% owned by U.S.-based Yahoo! -- Adrienne Mand

Copyright April 2001, Crain Communications Inc.

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