KDDI, SoftBank post lower 1st-half profits

Jiji Press

12:27 JST, November 10, 2022

TOKYO (Jiji Press)—KDDI Corp. and SoftBank Corp. posted declines in group operating profit for the fiscal first half that ended in September on the lingering impact of the introduction of lower-priced mobile plans as well as ballooning electricity costs. NTT Docomo Inc. was the only one that secured operating profit growth among three major Japanese wireless operators.

All three reported revenue growth thanks to the strength of mobile services for corporate clients and noncommunications operations, such as finance and cashless payment services. The introduction of low-cost mobile phone service plans pushed down operating profit at SoftBank by ¥49 billion.