Proto Corporation’s (TSE: 4298) operating income rose 29 percent year-on-year to ¥3.9 billion ($36 million U.S.) for the third quarter ended Dec. 31 — mainly due to sales growth and profitability improvement.
The group’s net income climbed 65 percent year-on-year to ¥2.7 billion ($24.6 million U.S.) during Q3, according to its latest financials. Sales increased to ¥47.8 billion ($435 million U.S.) from ¥46.7 billion ($426 million U.S.) during the corresponding period a year earlier.
Tokyo-headquartered Proto Corporation was founded in 1989. It runs used-cars marketplace GooNet, motorcycle marketplace GooBike.com, a car workshop finder called GooPit, and a listing site for unwanted goods at Oikura.jp. The company also owns lifestyle and real estate businesses, but its auto business segment accounts for more than 90 percent of its revenue.
Auto businesses earned Proto Corp. an operating income of ¥4.7 billion ($43 million U.S.) in Q3 — up 19.6 percent year-on-year. The segment’s sales amounted to ¥43.2 billion ($394 million U.S.). That number was ¥42.3 billion ($385 million U.S.) a year earlier, showing a two percent increase.
GooNet’s dealer network continues to expand. The vertical’s number of affiliated companies rose 7.3 percent year-on-year to 14,871 in Q3 FY2019.