SoftBank profit reaches new heights, surpassing Docomo
TOKYO -- SoftBank Corp. is expected to report a record net profit of roughly 520 billion yen ($5 billion) for the year ended in March, driven by its aggressive buying spree.
This would mark an 80% jump from fiscal 2012, although based on different accounting standards. With net profit at NTT Docomo Inc. coming to 464.7 billion yen, SoftBank will beat Japan's largest domestic mobile carrier for the first time.
Operating profit apparently climbed to nearly 1.1 trillion yen, exceeding the company's forecast of 1 trillion yen to set a record. By comparison, Docomo reported an operating profit of 819.1 billion yen, with KDDI Corp. at 663.2 billion yen.
SoftBank's main business as a domestic mobile service provider boosted sales of Apple's iPhone and tablets. And increased data use lifted income from communications plans.
Turning GungHo Online Entertainment and Willcom into subsidiaries generated 253.9 billion yen in valuation gains from SoftBank's existing shareholdings in the two companies.