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World Business Briefing: Japan: Mobile Phone Company’s Profit Surges


The Softbank Corporation, the Japanese mobile phone company, posted an eighteenfold increase in first-quarter profit after adding users at a pace twice that of the market leader, NTT DoCoMo. Net income rose to 25.1 billion yen ($211 million), or 22.36 yen a share, in the three months that ended June 30, from 1.42 billion yen, or 0.81 yen a share, a year earlier, Softbank said. Earnings were helped by one-time gains. Operating profit rose 45 percent, to 78.7 billion yen. Softbank cut prices to as little as 980 yen a month, the lowest in Japan, and said it would extend coverage by installing more base stations. Overall sales at Softbank, which controls 17 percent of the mobile market, increased 34 percent, to 663.1 billion yen.

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