Softbank 3Q profit up 2%; maintains full-year outlook

5 Feb 2009

Japanese telecoms group Softbank Corp has reported a 2% rise in third-quarter operating profit as a result of its decision to lower voice call charges and reduce handset subsidies, but stuck to its forecast for modest full-year growth of 4.8% to JPY340 billion (USD3.8 billion). In the three months ended 31 December 2008 Softbank posted operating profit of JPY94.7 billion, up 2% year-on-year from JPY92.4 billion profit previously. The operator said its results were bolstered by strong performances from its fixed line operation and at Yahoo Japan Corp, in which Softbank has a 41% stake. On the results, Softbank chief executive Masayoshi Son said: ‘The impact of discounts was still big until December, but since more and more people will come out of their 24-month payment period from now on, we can expect big profit growth … The actual operations are improving strongly.’

Japan, SoftBank Group Corp