Japan's Softbank net loss widens to 709 mln dlrs in first half

TOKYO (AFP) Nov 10, 2003
Japan's largest Internet investor Softbank said Monday its group net loss widened to 77.34 billion yen (709.5 million dollars) in the first half from 55.80 billion yen a year earlier after securities losses surpassed gains from selling holdings.

Recurring loss in the April-September period also grew to 53.65 billion yen from 45.96 billion yen but sales rose 18 percent to 225.5 billion yen from the same six-month period last year.

The company did not provide a full-year forecast.

Softbank's broadband business through Yahoo Japan fared well, with sales in the segment rising 296.1 percent to 40.0 billion yen in April-September but e-commerce sales dropped 7.1 percent from a year earlier to 118.3 billion yen, the company said.

Subscribers to Yahoo BB broadband service have topped three million while the cost of luring customers to the service is still large, Softbank said.

SPACE.WIRE