On December 19, 2018, SoftBank Corp. (TSE: 9434) listed its shares on the First Section of the Tokyo Stock Exchange. I'm very pleased to report on this major milestone to all of our stakeholders. I'd also like to take this opportunity to express my heartfelt gratitude for your continued support and understanding over the years.
Since its founding, the SoftBank Group has sought to promote the Information Revolution to contribute to the wellbeing of people and society. We see our corporate philosophy, “Information Revolution — Happiness for everyone,” as an unchanging principle. It embodies our strong determination to harness the boundless power of technology to deliver happiness and exciting experiences to as many people as possible around the world. By doing so, we aspire to remain an enterprise that contributes to society.
As the primary operating company of SoftBank Group Corp., SoftBank Corp. is proud of its track record in Japan's telecommunications industry. Guided by our corporate philosophy, we have constantly remained at the forefront of innovation and taken ambitious initiatives in the industry. As telecommunications services and infrastructure have become essential to daily life and business, it continues to be increasingly important.
Based on this telecommunications infrastructure, the use of the Internet of Things (IoT) and Artificial Intelligence (AI) is rapidly gaining ground and every industry is being redefined, leading to the continuous generation of new business models. Since such paradigm shift is now under way, we believe that there come more business opportunities to emerge. Eyeing the new market needs that will emerge from these shifting trends, SoftBank Corp. is pushing ahead with the “Beyond Carrier” strategy to challenge ourselves to lead further innovations.
Under the “Beyond Carrier” strategy, aiming to achieve further growth, we will continue to strengthen our business platform in the telecommunications business while enhancing management efficiency by applying new technologies such as Robotic Process Automation (RPA). At the same time, we will launch new business models and deliver added value by introducing various cutting-edge technologies and network services offered by SoftBank Group's affiliates and portfolio companies.
In the six months ended September 30, 2018, SoftBank Corp. achieved steady growth. The revenue increased by 6.4% year on year to ¥1,794.4 billion and the operating income rose by 16.5% year on year to ¥443.3 billion. The main reasons for this growth were steady increases in the number of subscribers for our three smartphone brands, SoftBank and Y!mobile, as well as LINE MOBILE, which was brought onboard in April 2018. The growth was also driven by a steady increase in the number of subscribers for SoftBank Hikari, our fiber-optic broadband service. Moreover, our proactive investments in the current fiscal year have created a steady string of new businesses. Notably, we established a joint venture with U.S.-based WeWork, a global provider of co-working spaces. With the successive opening of co-working spaces in various districts of Tokyo, the joint venture is developing business at the fastest pace among other WeWork operations around the world. In addition, through a joint investment between SoftBank Corp. and Yahoo Japan Corporation, we launched the PayPay smartphone payment services business. PayPay is based on the technology of Paytm, India's largest digital payment company. PayPay services are now being rolled out across Japan. Furthermore, we launched a joint business with Toyota Motor Corporation by forming a strategic partnership to develop new mobility services. In the second half of fiscal 2018, we will continue to accelerate measures to drive growth in both the telecommunications business and new business fields.
Technologies involving IoT, AI and big data, as well as business models leveraging those technologies, will likely continue to evolve at an unrelenting pace. The business environment surrounding SoftBank Corp. will also continue to change. This signifies that societal needs for the SoftBank Corp.'s services will continue to expand further. As technology has evolved from personal computers to the Internet, broadband, and smartphones, SoftBank Corp. has constantly built forward-looking businesses at an early stage to deliver new products and services to society. This entrepreneurial spirit has been handed down within SoftBank Corp. since its foundation. I'd like every management team member and employee of SoftBank Corp. to take the opportunity of this listing to reaffirm the importance of our corporate philosophy, “Information Revolution — Happiness for everyone” and our entrepreneurial spirit. With this in mind, we will pursue sustainable growth and increase of our corporate value.
In closing, I kindly ask our shareholders and other investors for their continued support and understanding of SoftBank Corp. as we endeavor to reach our goals.
President & CEO