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Softbank FY profit drops 27% on Brightstar writedown

2016-05-10 09:55:00| Telecompaper Headlines

(Telecompaper) Japanese operator Softbank reported net profit for the fiscal year to March 2016 down 26.9 percent to JPY 558.2 billion, hurt by writedowns of JPY 153.2 billion on its foreign investments, mainly mobile phone distributor Brightstar.. Revenues rose 7.6 percent to JPY 9.153 trillion, while operating income climbed 8.8 percent to JPY 999.4 billion.

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