Softbank logs record quarterly operating profit on popular iPhones
Thursday, July 29, 2021 6:41 AM

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TOKYO, Jul. 29, 2010 (Kyodo News International) -- Softbank Corp. (OOTC:SFTBY) said Thursday its group operating profit in the April-June quarter soared 44.6 percent from a year earlier to a record 156.60 billion yen owing to the popularity of Apple Inc.'s (NASDAQ:AAPL) iPhone handsets, which Softbank sells exclusively in Japan.

Softbank's sales rose 5.2 percent to 700.84 billion yen, with the new iPhone 4 handset, released in June, contributing to a rise in revenue from data communication fees. The release in May of Apple's iPad tablet computer also helped boost Softbank's earnings.

But the company's net profit fell 29 percent to 19.44 billion yen, as Yahoo Japan Corp. (OOTC:YAHOY) , a Softbank unit, paid additional corporate taxes of around 26.5 billion yen for its acquisition of Softbank's data center and network business unit in 2009.

''Our performance is fine,'' Softbank President Masayoshi Son said at a news conference. ''I cannot understand the tax authorities' claim and believe that the tax paid will be returned to us.''

For the whole of fiscal 2010 through March, Softbank retained its forecast for operating profit to increase 7.3 percent from the previous year to 500 billion yen.

 

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