Net income plunged 88.8 percent to JPY 30.5 billion in the quarter, due mainly to financial and derivative losses related to the company's stake in Alibaba. Operating income amounted to JPY 479.2 billion, which represents an increase of 50.1 percent year-on-year, due largely to the inclusion of the new Softbank investment fund. Excluding the Softbank Vision Fund, operating profit was up 17.2 percent to JPY 374.0 billion, led by growth at Sprint and Yahoo Japan.
The Domestic Telecommunications segment’s net sales reached JPY 755.6 billion, down 0.8 percent year-on-year. The Sprint segment’s net sales totaled JPY 910.4 billion, which represents an increase of 4.2 percent, while the Yahoo Japan segment’s net sales reached JPY 211.4 billion, up 3.5 percent from June 2016.
In its home market, Softbank said mobile subscribers reached 32.4 million at end-June, following 48,000 net additions from March 2017. The number of Home Bundle Discount Hikari Set Applications at the end of the quarter stood at 6.6 million for mobile services, up 611,000 from March, and 3.18 million for broadband services, up by 278,000 in the period. The number of mobile devices sold for main subscribers increased by 44,000 year-on-year to 2.35 million at 30 June.
The cumulative number of subscribers for broadband services at the end of the fiscal first quarter stood at 6.4 million, which represents an increase of 258,000 users from March. This mainly reflected an increase of 420,000 subscribers for SoftBank Hikari, while subscribers for Yahoo! BB hikari with FLET’S decreased by 118,000 and subscribers for Yahoo! BB ADSL decreased by 45,000.
