Softbank leads the market but losses widen

10 May 2004

Leading broadband provider Softbank Corp reported a loss for its fiscal full-year, as the cost of attracting new users took its toll on company finances. The operator, whose fortunes have suffered since the dot-com bubble burst, posted a net loss of JPY107.9 billion (USD950.5 billion) in the twelve months to the end of March, compared to a loss of JPY99.99 billion the previous year, despite sales rising to JPY517.39 billion, up 27%. Softbank’s ADSL service, a joint venture with affiliate Yahoo! Japan, now has more than four million subscribers and is targeting six million by September 2005.