Press Releases 2009

Announcement Regarding Revision of
Earnings Forecasts (Consolidated Free Cash Flow)

October 29, 2009

SOFTBANK CORP. (hereafter ‘the Company’) announces that it has revised the consolidated earnings forecasts for FY2009 ending March 31, 2010 disclosed on April 30, 2009 as stated below, in view of the latest earnings trends.

Revision of the 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 free cash flow*1
Previous forecast (A) 420.0 250.0
Latest forecast (B) 420.0 300.0
Difference (B-A) 50.0
Difference ratio (%) 20.0%
(Ref) Actual of the previous period (FY2008 ended March 31, 2009) 359.1 181.5
[Note]
  • *1Combined net consolidated cash flows from operating activities and investing activities

Background of revision

The consolidated full-year earnings forecasts for FY2009 ending March 31, 2010 showed JPY 420.0bn of consolidated operating income and JPY 250.0bn of consolidated free cash flow (combined net consolidated cash flows from operating activities and investing activities).
Considering the earnings trends for the second quarter ended September 30, 2009, the original forecast of the consolidated operating income remains as it was forecast while the former forecast of the consolidated free cash flow has been raised by JPY 50.0bn to JPY 300.0bn. This revision was mainly due to improvement of cash flows from operating activities in the telecommunications businesses such as SOFTBANK MOBILE Corp.

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’.

The forecast in this release is made based on information available at the time of writing, and it contains certain forward-looking statements that are subject to various risks and uncertainties including, without limitation, the general economic conditions and other important factors, which may cause actual results to differ materially from those expressed or implied in any forward-looking statements.
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