On February 7, 2020, at a Tokyo hotel, SoftBank Corp. (TOKYO: 9434) held its earnings briefing for the third quarter (nine months ended December 31, 2019) of the fiscal year ending March 31, 2020. President & CEO Ken Miyauchi opened his presentation by stating that all businesses are showing steady growth.
Revenue and operating income forecasts revised upwardly
For the nine months ended December 31, 2019, consolidated results saw increased sales and profits. Revenue was 3618.0 billion yen (a 5% year-on-year increase*), operating income was 795.1 billion yen (a 9% year-on-year increase) and net income amounted to 436.6 billion yen (a 3% increase year-on-year)*. For the full fiscal year ending March 31, 2020, Miyauchi said that both revenue and operating income would be revised upwardly thanks to increased smartphone subscribers and growth in enterprise solutions.
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- *Figures for the previous fiscal period were adjusted retrospectively to have consolidated Z Holdings Corporation from April 1, 2018.
Optimizing managerial resources for the 5G era
Anticipating the launch of SoftBank’s commercial 5G services from the end of March, Miyauchi introduced a number of 5G initiatives, including trials and pre-services. He noted that business resources will increasingly be allocated to 5G.
In the Consumer Segment, Miyauchi presented sports viewing and live event experiences as showcases for SoftBank’s 5G capabilities.
As an example of 5G’s potential, for the Enterprise Segment Miyauchi cited an initiative where the technology will be utilized to ensure worker safety in tunnel construction.
Miyauchi noted that the Solutions business is performing well, and that he expects it to expand even more in the future as enterprises accelerate their digital transformations in earnest.
Aiming for expansion with the commercialization of 5G
Toward the end of his presentation, Miyauchi turned his attention to growth in new businesses. He noted the rapid adoption of the smartphone payment service PayPay, saying, “During my long career with SoftBank, I’ve never seen a business grow so dramatically in my life.”
Miyauchi concluded the briefing by looking to future growth. “With the telecommunication business serving as our foundation, we’ll boost business growth with the commercialization of 5G, and expand new businesses together with other group companies,” he said.
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(Original article posted on February 10, 2020)
by SoftBank News Editors
