Softbank’s losses rocket for Q4

11 May 2005

Japanese broadband company Softbank has reported losses of JPY27 billion (USD256 million) for its fiscal fourth quarter ended 31 March 2005, compared to a net loss of JPY13.4 billion (USD127 million) at the same time the previous year. The company attributed the poor result to increased spending on advertising and other promotions during the period. Sales at the company grew to JPY275 billion (UUSD2.6 billion), up from JPY155 billion (USD1.46 billion) in the first quarter of 2004, thanks to the acquisition of Cable & Wireless IDC in February. The company expects to get back into the black by the end of March 2006. Softbank ’s broadband service, Yahoo! BB, claimed 4.77 million users at the end of March; the company is targeting 6.5 million subscribers by September this year.