Vodafone KK reports 69.4% drop in profits

2 Jun 2006

Japanese mobile operator Vodafone KK, recently acquired from Vodafone Group by Softbank, says it posted a 69.4% fall in consolidated net profit in its fiscal year 2005, down to JPY49.5 billion (USD440 million), as a result of falling revenues and increased sales costs. Pre-tax profits in the year to 31 March 2005 plummeted 51.5% to JPY74.4 billion.

Vodafone KK is due to be re-branded as Softbank Mobile in October as its new parent looks to begin to turn the company round. Softbank hopes to capitalise on the cellco’s rich portfolio of content services and new mobile number portability rules which come into effect at that date.

Japan, SoftBank Corp