Yahoo! Japan watched its shares sink 7.6% yesterday after reporting a fall in ad revenue – the first for three years.
The portal’s advertising income in the three months to June was down 3.7% on the first quarter, prompting a fall in its stock of Y280,000 to Y3.4 million ($27,000) in morning trade.
In response, Yahoo! Japan announced it intended to redress the fall in advertising by concentrating on high-speed internet connections. Its asymmetrical digital subscriber line (ADSL) service is due for launch next month.
News source: Financial Times