Tokyo-based label Columbia Music Entertainment has unveiled a consolidated net profit of ¥8 million ($75,800) for the April 1-Sept. 30 first half, compared to a loss of ¥797 million ($7.5 million) in the corresponding period last year. Sales during the period rose 4.1% to ¥14.7 billion ($139.3 million).
It was the first time the company has had a mid-term profit since it began reporting first-half results in 2001.
“During this period, we strengthened our production businesses, cut our costs aggressively, worked to optimize our costs such as advertising costs, and worked on reducing the percentage of returns,” the company said in a statement.
Top-selling acts for the label (formerly known as Nippon Columbia) in the first half included vocalists Yo Hitoto and Kiyoshi Hikawa, rap group Nitro Microphone Underground and Paul Weller.
