Japanese telco SoftBank Corp on Monday forecast operating profit for the current financial year at 920 billion yen (US$8.6 billion), largely ...
Japanese telco SoftBank Corp on Monday forecast operating profit for the current financial year at 920 billion yen , largely unchanged from a year earlier.
FILE PHOTO: A woman using a mobile phone walks past the logo of SoftBank Corp in Tokyo, Japan December 18, 2014. REUTERS/Toru Hanai/File PhotoTOKYO: Japanese telco SoftBank Corp on Monday forecast operating profit for the current financial year at 920 billion yen , largely unchanged from a year earlier.
Japan's third-largest wireless carrier is a vital source of cash for highly leveraged parent SoftBank Group Corp, which is set to post a record annual operating loss next week as Chief Executive Masayoshi Son's tech investments curdle.SoftBank Corp reported a 32per cent rise in operating profit in the three months ended March to 116.6 billion yen, compared with 88.7 billion yen a year earlier.
SoftBank Corp launched next-generation 5G services at the end of March but the industry faces new competition from e-commerce firm Rakuten Inc, which has launched aggressively low-priced plans in an attempt to take share from the three incumbents.
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