Web portal Yahoo Japan has reported a profits surge for fiscal Q3 after strong showings in advertising and web auctions.

Japan's biggest internet portal -- 33.5%-owned by America's Yahoo -- posted net profits of ¥6.65 billion ($63 million; €49m; £34m) in the three months to December 31, up from ¥3.55bn in Q3 2002. Sales were up 55.4% to ¥20.1bn.

The company operates Japan's biggest online auction site, which now boasts 3.57m users. Its ad sales business, meanwhile, has been boosted by rising demand from the corporate sector.

As a result of the strong Q3 performance, Yahoo Japan has raised its full-year profit forecast to between ¥23.2bn and ¥24bn, up from earlier predictions of ¥22bn to ¥22.6bn.

Data sourced from: Financial Times; additional content by WARC staff