As of March 31, 2012, the SoftBank Group's business segments were comprised of the following consolidated subsidiaries and equity method companies. The segments' main businesses were as follows:
SoftBank owns 100% of shares issued by WILLCOM. However, WILLCOM is in the process of rehabilitation under the Corporate Rehabilitation Act and the Company does not have effective control over WILLCOM. Therefore, WILLCOM is not treated as a subsidiary.
| Business Segments | Consolidated Subsidiaries | Equity Method Non-consolidated Subsidiaries and Affiliates |
|
|---|---|---|---|
| Reportable segments | Mobile Communications | 3 | 1 |
| Broadband Infrastructure | 3 | - | |
| Fixed-line Telecommunications | 2 | - | |
| Internet Culture | 12 | 7 | |
| Others | 113 | 66 | |
| Total | 133 | 74 | |
For fiscal 2011 (April 1, 2011 to March 31, 2012), the Group achieved consolidated net sales of 3,202,436 million yen, a 197,796 million yen (6.6%) increase compared with fiscal 2010 (April 1, 2010 to March 31, 2011; “year on year”), with a 46,120 million yen (7.3%) increase in operating income to 675,283 million yen. This consolidated revenue and profit growth was driven by strong performance in the Mobile Communications segment.
Net sales totaled 3,202,436 million yen, for a 197,796 million yen (6.6%) year-on-year increase. This was mainly due to increased telecom service revenue, primarily from steady growth in the number of mobile phone subscribers. Another factor was an increase in sales of mobile handsets following strong growth in shipments of iPhone 4S, which was launched in October 2011.
Operating income totaled 675,283 million yen, for a 46,120 million yen (7.3%) year-on-year increase. The operating margin rose 0.2 of a percentage point year on year, to 21.1%.
Cost of sales rose 112,134 million yen (8.2%) year on year to 1,485,751 million yen. This was primarily due to an increase in the cost of sales for mobile handsets in the Mobile Communications segment as the number of handsets shipped increased in line with the launch of iPhone 4S, along with higher depreciation and amortization expenses, mainly relating to the installation of additional base stations.
Selling, general and administrative expenses grew 39,542 million yen (3.9%) year on year to 1,041,402 million yen. This was mainly because of an increase in the total amount of sales commissions paid in the Mobile Communications segment, resulting from a rise in the number of handsets sold following the launch of iPhone 4S.
Income before income taxes and minority interests grew 151,644 million yen (31.6%) year on year, to 632,257 million yen.
The Group recorded an 88,317 million yen gain on sale of investment securities, net, an increase of 82,419 million yen year on year. This was primarily attributable to a 76,430 million yen gain on sale of Yahoo! Inc. shares.
Interest expense was 62,206 million yen, a decrease of 41,814 million yen year on year, mainly due to the repayment of the SMB loan in October 2011.
Provisions for current income taxes were 196,509 million yen and provisions for deferred income taxes were 58,204 million yen. Total income taxes increased 21,763 million yen year on year to 254,713 million yen.
As a result of the above, net income totaled 313,753 million yen, for a 124,040 million yen (65.4%) increase year on year.
Comprehensive income was 356,989 million yen, an increase of 137,047 million yen (62.3%) year on year. Of this, comprehensive income attributable to owners of the parent was 296,543 million yen, up 136,766 million yen (85.6%) year on year, and comprehensive income attributable to minority interests was 60,446 million yen, up 281 million yen (0.5%) year on year.
| FY2010 | FY2011 | |
|---|---|---|
| Net sales | 3,004,640 | 3,202,436 |
| Cost of sales | 1,373,617 | 1,485,751 |
| Gross profit | 1,631,023 | 1,716,685 |
| Selling, general and administrative expenses | 1,001,860 | 1,041,402 |
| Operating income | 629,163 | 675,283 |
| Other income (expenses): | ||
| Interest and dividend income | 3,857 | 4,400 |
| Interest expense | (104,020) | (62,206) |
| Equity in earnings (losses) of affiliated companies | 2,874 | (2,948) |
| Gain on sale of investment securities, net | 5,898 | 88,317 |
| Valuation loss on investment securities | (8,740) | (13,971) |
| Other, net | (48,419) | (56,618) |
| Other expenses, net | (148,550) | (43,026) |
| Income before income taxes and minority interests | 480,613 | 632,257 |
| Income taxes: | ||
| Current | (173,510) | (196,509) |
| Corrections | (27,392) | - |
| Deferred | (32,048) | (58,204) |
| Total income taxes | (232,950) | (254,713) |
| Net income before minority interests | 247,663 | 377,544 |
| Minority interests in net income | (57,950) | (63,791) |
| Net income | 189,713 | 313,753 |
| 2011 | 2012 | |
|---|---|---|
| Net income per share | ||
| – Basic | 175.28 | 285.78 |
| – Diluted | 168.57 | 278.75 |
| Cash dividends applicable to the year | 5.00 | 40.00 |
| 2011 | 2012 | |
|---|---|---|
| Net income before minority interests | 247,663 | 377,544 |
| Other comprehensive income (loss): | ||
| Unrealized loss on available-for-sale securities | (6,822) | (25,780) |
| Deferred loss on derivatives under hedge accounting | (3,177) | (12,661) |
| Foreign currency translation adjustments | (10,195) | 21,328 |
| Share of other comprehensive loss in affiliated companies | (7,527) | (3,442) |
| Total other comprehensive loss | (27,721) | (20,555) |
| Comprehensive income | 219,942 | 356,989 |
| Total comprehensive income attributable to: | ||
| Owners of the parent | 159,777 | 296,543 |
| Minority interests | 60,165 | 60,446 |
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