Japanese operator SoftBank Corp predicted steady gains in profitability and overall revenue in fiscal 2023 (ending 31 March 2023), after booking growth in the January to March period.
In its earnings release, the company forecast net income to increase at least 2.4 per cent to JPY530 billion ($4.1 billion) and revenue 3.7 per cent to JPY5.9 trillion.
SoftBank Corp expects growth to be fuelled by its enterprise segment, and Yahoo Japan and Line units, which will offset lower mobile profitability caused by continued price reductions.
In fiscal Q4 2022, net income was up 68.2 per cent year-on-year to JPY96.7 billion due mainly to gains in the valuation of its investments.
Consolidated revenue rose 8.4 per cent to JPY1.5 trillion, as a 3.5 per cent decline in mobile service to JPY397.3 billion was offset by 22.7 per cent growth from Yahoo Japan and Line to JPY407.3 billion.
Enterprise revenue was flat at JPY186.8 billion and its distribution business declined 8.4 per cent to JPY138.9 billion.
SoftBank Corp’s subscriber base increased 1.7 per cent to 38.6 million. Total ARPU including discounts fell 5.1 per cent to JPY4,070.
Capex for the full year dropped 4.9 per cent to JPY647.3 billion.Subscribe to our daily newsletter Back