SOFTBANK ANNOUNCES CONSOLIDATED RESULTS FORECAST
Nov. 20, 2000
FOR FISCAL 2001 FIRST HALF
Tokyo, Japan, November 20, 2000-SOFTBANK CORP. today announced the following forecasts for its consolidated results for the fiscal 2001 first half, ended September 30, 2000.
Interim Consolidated Results Forecast
For the six months ended September 30, 2000
|Revenues||Ordinary income||Net income|
|Fiscal 2001 interim forecast||180,000||1,000||36,000|
|Fiscal 2000 interim results||201,579||-11,298||-3,517|
As indicated above, SOFTBANK expects to record a 21.6 billion yen decline in consolidated revenues during the period, to 180 billion yen. This is primarily attributable to the sale of U.S. subsidiary Ziff-Davis Inc.’s publishing business in the first half of fiscal 2001, and a change in the accounting classification of subsidiary UTStarcom, Inc., from consolidation to the equity method, following the company’s initial public offering. Consolidated ordinary income for the half is expected to be 1 billion yen as the impact of start-up costs for new businesses of consolidated subsidiaries and the amortization of goodwill of affiliates accounted for by the equity method offset improved profitability, owing to the divestiture of ZDTV and other businesses, and exchange gains. Gains on the sale of investment securities and gains on sales of stock by investees are expected to contribute to net income of 36 billion yen.
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