Internet Culture Segment | SOFTBANK CORP.

Financial data

(Millions of yen)
	FY2009	FY2010	FY2011	EOQ in FY2011
	FY2009	FY2010	FY2011	Q1	Q2	Q3	Q4
Net sales	254,238	270,755	283,616	68,405	69,060	72,701	73,450
EBITDA^*1	137,389	148,175	161,545	38,170	38,802	41,944	42,629
EBITDA margin (%)^*2	54.0	54.7	57.0	55.8	56.2	57.7	58.0
Operating income	125,098	136,586	150,306	35,573	36,067	39,029	39,637
Operating margin (%)	49.2	50.4	53.0	52.0	52.2	53.7	54.0
Capital expenditure (acceptance basis)	9,887	6,128	10,713	1,907	1,909	2,783	4,114
Depreciation and amortization (excluding amortization of goodwill)	10,843	9,864	9,423	2,169	2,308	2,413	2,533

[Notes]

*1EBITDA = operating income (loss) + depreciation and amortization (including amortization of goodwill) + loss on disposal of fixed assets included in operating expenses.
*2EBITDA margin = EBITDA / net sales.

Overall results

Net sales increased by 12,861 million yen (4.7%) year on year to 283,616 million yen and operating income increased by 13,720 million yen (10.0%) year on year to 150,306 million yen.

The increase in net sales was mainly due to revenue growth at Yahoo Japan on an increase in listing and display advertising. Operating income increased primarily as a result of the growth in net sales in addition to a decrease in communications expenses due to improved operational efficiency resulting from direct ownership of data centers.

Yahoo Japan, the segment's core company, continued to face an uncertain corporate business environment including sharp appreciation of the yen and a severe employment situation. Despite this, the advertising market in Japan steadily moved toward recovery, and Yahoo Japan saw an increase in placements for both listing and display advertising. In addition, growth in transaction volume at Yahoo! Shopping and increased listings at Yahoo! Real Estate contributed to net sales expansion.

[Note]