Softbank reverses 1H 2006 loss on Vodafone KK

8 Nov 2006

Japan’s Softbank Corp today reported it has swung back to the black for the fiscal first-half to 30 September 2006, thanks to the contributions of its mobile unit (formerly Vodafone KK) and by cutting its broadband internet service promotion costs. Net income rose to JPY13 billion (USD111 million) for the six months under review, up from JPY7 billion a year earlier, while sales more than doubled to JPY625.9 billion, 56% of which was generated by its mobile unit – acquired in April.

Operating profit meanwhile surged from JPY7.6 billion to JPY58.2 billion, with the group’s internet business reporting a 32% rise in operating profit to JPY22.7 billion, led by higher advertisement sales at its Yahoo Japan Corp affiliate and fees from its Yahoo auction and shopping sites. Elsewhere, Softbank said it had trimmed operating losses at its fixed line business to JPY916 million from JPY12 billion a year earlier on sales of JPY93 billion (+9%).

Japan, SoftBank Corp, SoftBank Group Corp