Press Releases 2009

Announcement Regarding Revision of Earnings Forecasts

February 5, 2009

SOFTBANK CORP., (hereafter ‘the Company’) announces that it has revised the consolidated earnings forecasts for FY2008 ending March 31, 2009 disclosed on October 29, 2008 as stated below, in view of the latest earnings trends.

Revision of the consolidated full-year earnings forecasts for FY2008 ending March 31, 2009 (from April 1, 2008 to March 31, 2009)

(Billions of yen)
 Consolidated operating incomeConsolidated
cash flows from operating activities
Consolidated
cash flows from investing activities
Consolidated free cash flow*
Previous forecast (A) 340.0 420.0 (280.0) 140.0
Latest forecast (B) 340.0 420.0~430.0 (280.0)~(270.0) 150.0
Difference (B-A) - 0.0~10.0 0.0~10.0 10.0
Difference ratio (%) - 0%~2.4% - 7.1%
(Ref) Actual of the previous period (FY2007 ended March 31, 2008) 324.2 158.2 (322.4) (164.2)
[Note]
  • * Combined net consolidated cash flows from operating activities and investing activities

Background of revision

The consolidated full-year earnings forecasts for FY2008 ending March 31, 2009 showed JPY 340.0bn of consolidated operating income, JPY 420.0bn of consolidated cash flows from operating activities, JPY (280.0)bn of consolidated cash flows from investing activities and JPY 140.0bn of consolidated free cash flow (combined net consolidated cash flows from operating activities and investing activities).

Considering the earnings trends for the third quarter ended December 31, 2008, the original forecast of the consolidated operating income remains as it was forecast while the former forecast of the consolidated cash flows from operating activities has been revised upwardly to JPY 420.0bn - JPY 430.0bn mainly due to improvement of working capital in the mobile business. The forecast of the consolidated cash flows from investing activities has also been revised up to JPY (280.0)bn - JPY (270.0)bn due to more efficient capital expenditure. This resulted in upward revision of the initial forecast of the consolidated full-year free cash flow by JPY 10.0bn to JPY 150.0bn. The SOFTBANK Group operates with a focus on cash flow. In the future the SOFTBANK Group will continue to consider the free cash flow as an important index, and put efforts into enhancing it while maintaining ‘sustainable growth’.

No changes have been made in the consolidated full-year earnings forecasts for FY2009 ending March 31, 2010 and the forecasts remain the same.

(Reference)

Consolidated full-year earnings forecasts for FY2009 ending March 31, 2010 (from April 1, 2009 to March 31, 2010)

(Billions of yen)
 Consolidated operating incomeConsolidated
cash flows from operating activities
Consolidated
cash flows from investing activities
Consolidated free cash flow
Earnings forecast(Announced on Oct 29, 2008) 420.0 500.0 (250.0) 250.0
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