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Yahoo Japan, the country's largest online portal, according to FinancialTimes.com, reported that its profits more than doubled in the latest financial year. The main reasons for the boost are Yahoo Japan's online auction presence and its online ad revenue.

The company's first quarter profits for this year surged 105% from Y12.1 billion to Y24.8 billion ($228 million). Sales for Yahoo Japan rose to Y7.5 billion, a 28% increase while operating profits jumped to Y41.2 billion, an increase of 71%.
Online advertising revenues saw a substantial increase also. Ad revenue jumped 64% to Y22.2 billion, with much of the focus coming from paid listings for search results. This marks an "overall recovery in Japan's online advertising market."

Other reasons for the company's increased profits are the improved server capacity for its web index and the lowering of fees on its online auction presence. The lowered fees for Yahoo Japan's auction, already the country's largest, boosted sales by 88% to Y20.8 billion.

These impressive financial reports undoubtedly come as good news to Softbank, which owns 41% of Yahoo Japan, as well as Yahoo, which owns a 33.5% stake.

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