02-17-13 results_Q3-1

7/29/2019 02-17-13 results_Q3-1

http://slidepdf.com/reader/full/02-17-13-resultsq3-1 1/88

Earnings Resultsfor the Nine-month Perio

Ended December 31, 201

SoftBank Corp.

January 31, 2013

7/29/2019 02-17-13 results_Q3-1


Cautionary Statement Regarding Forward Looking Statements

This document includes “forward-looking statements” within the meaning of the securities laws. The words “may,” “could,” “should,” “estimate,” “project,” “forecast,” “inte“target,” “plan,” “providing guidance” and similar expressions are intended to identify information that is not historical in nature.

This document contains forward-looking statements relating to the proposed transaction between Sprint Nextel Corporation (“Sprint”) and SoftBank Corp. (“SoftBank”) aStarburst II, Inc. (“Starburst II”) pursuant to a merger agreement and the proposed acquisition by Sprint of Clearwire Communications LLC (“Clearwire”). All statements, statements regarding the expected timing of the closings of the transactions; the ability of the parties to complete the transactions considering the various closing conditransaction, such as improved operations, enhanced revenues and cash flow, growth potential, market profile and financial strength; the competitive ability and positassumptions underlying any of the foregoing, are forward-looking statements. Such statements are based upon current plans, estimates and expectations that areassumptions. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. You should statements. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, that (1) one or more clmay not be satisfied or waived, on a timely basis or otherwise, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of

approval by Sprint’s stockholders for the merger with SoftBank or by Clearwire’s stockholders for the acquisition by Sprint may not be obtained; (2) there may be a mateSprint or the respective businesses of SoftBank or Sprint may suffer as a result of uncertainty surrounding the transactions; (3) the transactions may involve unexpected coproceedings that have been initiated, as well as any additional legal proceedings that may be initiated, related to the transactions; and (5) other risk factors as detailed from and Clearwire’s reports filed with the Securities and Exchange Commission (“SEC”), including Sprint’s and Clearwire’s Annual Reports on Form 10-K for the year ended DeReport on Form 10-Q for the quarter ended September 30, 2012, Clearwire’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2013, June 30, 2012 anfactors set forth in the proxy statement/prospectus contained in Starburst II’s Registration Statement on Form S-4, which are (or will be, when filed) available on the SEC’s

be no assurance that the transactions will be completed, or if completed, that such transactions will close within the anticipated time period or that the expected benefits of s

All forward-looking statements contained in this document and the documents referenced herein are made only as of the date of the document in which they are containStarburst II undertakes any obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to refevents except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.

Additional Information and Where to Find It

In connection with the proposed strategic combination, Starburst II plans to file with the SEC a Registration Statement on Form S-4 that will include a proxy statement of Sprospectus of Starburst II. Sprint will mail the proxy statement/prospectus to its stockholders. INVESTORS ARE URGED TO READ THE PROXY STATEMENT/PR

AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. The proxy statement/prospectus, as well as other fili ngs containing information about Sprintavailable, free of charge, from the SEC’s web site (www.sec.gov

). Sprint’s SEC filings in connection with the transaction also may be obtained, free of charge, from Sprint’s w

tab “About Us – Investors” and then under the heading “Documents and Filings – SEC Filings,” or by directing a request to Sprint, 6200 Sprint Parkway, Overland Park, KaRelations or (913) 794-1091. Starburst II’s SEC filings in connection with the transaction (when filed) also may be obtained, free of charge, by directing a request to SoftBanku, Tokyo 105-7303, Japan; telephone: +81.3.6889.2290; e-mail: [email protected].

Participants in the Merger Solicitation

The respective directors, executive officers and employees of Sprint, SoftBank, Starburst II and other persons may be deemed to be participants in the solicitation oInformation regarding Sprint’s directors and executive officers is available in its Annual Report on Form 10-K for the year ended December 31, 2011. Other information regawell as information regarding Starburst II’s directors and executive officers and prospective directors and executive officers will be available in the proxy statement/prospdocuments can be obtained free of charge from the sources indicated above. This communication shall not constitute an offer to sell or the solicitation of an offer to sell

securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under theNo offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

mailto:[email protected]

http://www.sec.gov/



http://www.sec.gov/

http://www.sec.gov/

7/29/2019 02-17-13 results_Q3-1


1. Exceeded JPY 600bn operaincome (13% increase)

2. Achieved 40 million lines ta

Highlights

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Consolidated

Earnings Result

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2003 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12

Record hig

3 consecperiod

Internet Culture (Yahoo

Others

3 Telecommunications(Mobile Communications, BroFixed-line Telecommunication

(FY)

(JPY t)

Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3Q1-3

0

2.4

Net Sales 2.5

5% incre

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2003 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12

0

890.5

776.0

(FY)

Others

3 Telecommunications

Record hig

9 consecperiod

15% incr

Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3Q1-3

(Mobile Communications, BroFixed-line Telecommunication

(JPY bn)


EBITDA

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2003 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12

0

Operating Income

(FY)

600.1

532.7

Others

3 Telecommunications

13% incre

Record hig8 consecutive

Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3Q1-3

(Mobile Communications, BroFixed-line Telecommunication

Surpassed JPY6(JPY bn)


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2005 ’06 ’07 ’08 ’09 ’10 ’11 ’12

KDDI

0

395.5

702.1

Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3

(JPY bn)

600.1 SoftBank

NTT DOCOMO

ClosingDOCO

*Created by SoftBank baseavailable information.(FY)

Operating Income

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+13%

+3%

Substa

grow

Operating IncomeGrowth Rate (YoY)

NTT DOCOMO KDDI SoftBank *Created by SoftBank baseavailable information.

*April to December (9-mont

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2006 ’07 ’08 ’09 ’10 ’11 ’12

24% SoftBank

15%

21%

(FY)

KDDI

NTT DOCOMO

Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3

Operating Margin

*Created by SoftBank baseavailable information.

No.profita

25

20

15

10

(%)

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19%

AT&T

Verizon

20%

2006 ’07 ’08 ’09 ’10 ’11 ’12(FY)

24%

*Created by SoftBank baseavailable information.

*April to December (9-montJanuary to September (9-m

Operating Margin

Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3

No.profita

SoftBank25

20

15

10

(%)

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2005 ’06 ’07 ’08 ’09 ’10 ’11 ’12

No.in bot

Japan &

52%

（ YTD）

47% Verizon

44% NTT DOCOMO

40% AT&T

*Created by SoftBank based on respective coavailable information.

*April to March (for Japanese companies)January to December (for US companies)Mobile EBITDA Margin = Mobile EBITDA / Mob

Service RevenueKDDI FY2012 data not shown due to reorganizreportable segments.

Mobile EBITDA Margin

KDDI

SoftBank

41%

55

45

35

25

(%)

50

40

30

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2003 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12

529.4

Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3Q1-3

(FY)

(JPY bn)

0

443.9

19% incr

Record h4 consec

perio

Ordinary Income

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2003 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12

0

235.3

Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3Q1-3

(FY)

(JPY bn) 250.0

Steady gr

Net Income

Impact from sales of Yahoo! Inc. shares in US

44.7

17.1

Impact from IPO of Renren Inc. and others

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Summary of Consolidated Earnings R

Increment

111.5

114.4

67.3

85.4

(14.7)

Sales

EBITDA

Operating Income

Ordinary Income

Net Income

FY11/Q3

2,398.1

776.0

532.7

443.9

250.0

FY12/Q3

2,509.7

890.5

600.1

529.4

235.3

(Apr. - Dec. 2012)(Apr. - Dec. 2011)

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2007 ’08 ’09 ’10 ’11 ’12

595.3

Q1-3 Q1-3 Q1-3 Q1-3 Q1-3

507.4525.9

469.1

270.7

Q1-3

57.2

(JPY bn)

Steady pro

Operating Cash Flow

(FY)

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Operating Cash Flow

Free Cash Flow

1) Sales of Yahoo! Inc. shares

2) Investment inconvertible bond of Sprint

3) CAPEX payment

FY11/Q3

507.4

236.7

+57.1

-

(357.6)

FY12/Q

5

(15

(24

(43

Cash Flow

(Apr. - Dec(Apr. - Dec. 2011)

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2006 ’07 ’08 ’09 ’10 ’11 ’12

Dec.

(CY)

Bridge financing relatedproposed acquisition of

Mainta

approprleve

*Excluding lease obliga

（Press release from December 17

*Refer to the press rele

(JPY t) Net Interest-bearing Debt

2.0

1.4

0.7

0.86

2.2

0.25

2.0

1.7

0.61

Dec. Dec. Dec. Dec. Dec. Dec.

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0

1.0

2.0

3.0

4.0

5.0

2006 ’07 ’08 ’09 ’10 ’11 ’12

0.7x

4.4x

Net Debt/EBITDA Multiple

Mainta

approprleve

(times)

Dec. Dec. Dec. Dec. Dec.Dec. Dec.

*Excluding finance leases.Net interest-bearing debt for each periodFor FY2012, calculated 4/3 of EBITDA fro

(CY)

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0

1.0

2.0

3.0

4.0

5.0

2006 ’07 ’08 ’09 ’10 ’11 ’12

Including lease ob

Mainta

approprleve

Net Debt/EBITDA Multiple

1.3x

(CY)

Dec. Dec. Dec. Dec. Dec.Dec. Dec.

4.8x

*Including finance leases.Net interest-bearing debt for each periodFor FY2012, calculated 4/3 of EBITDA fro

(times)

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Facility B:Acquisition of Sprint

(Drawdown at the time of acquisition)

(Drawdown in Dec. 2012)

Facility A:Acquisition of Sprint CB

USD 20.1bn

(JPY1.65t)

InvestmentSoftBank Bridge Loan

Financing to coacquisition is a

Sprint Acquisition (1)

*Refer to the press release issu

7/29/2019 02-17-13 results_Q3-1


75

80

85

90

95

2012/10/1 11/1 12/1 2013/1/1

Sprint Acquisition (2)

USD-JPY Exchange Rate

10/15Sprint acquisition announced

FX risk hefor full am

JPY 91 (Jan. 30, 2013)

Average JPY 82.2

Forward exchange rate

*Final exchange rate will be determined oclosing date.

(JPY)

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Interim

Year-end

Annual dividend

FY11

ー

40

40

FY12

20

20

40

FY2012 Dividend Policy

(plan

No change in dividend pol

(plan

Dividend per Share

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Adoption of International FinaReporting Standards (IFRSalong with Sprint acquisitio

(From FY2013/Q1)

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Status of Business in Japan

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Apr. 2006 Dec. 2012

Subscribers

Surpas40 millin Jap

10m

(Target announced

15.22m

40.56m

(m)

Net Additions

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NTT

DOCOMO

au

(KDDI)

SoftBank

2.37m

1.71m

0.86m

Net Additions(Apr. - Dec. 2012)

No.1 in

additio

*Created by SoftBank based on respective compan

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Annual Net Additions Ranking

No.1 in net additionsfor 5 consecutive years

*Created by SoftBank based on respective companies’ pub

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0

5,000

10,000

15,000

20,000

11/1 12/1 1/1

Exceeded a

iPhone

*Survey on cumulative salesat major electronic retailers by

Oct. 2012 Jan. 2013

100

Cumulative Sales of iPhone 5

(Indexed at October 1, 2012 = 100)

SoftBank

Nov. Dec.

au (KDDI)

(JPY)

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ARPU

3,000

4,500

6,000

7,500

9,000

2001 ’02 ’03 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12 (FY)

(Q3)

7,600

8,480

au

(KDDI)

NTT DOCOMO

4,3704,220

4,430

( )

*Excluding communication modules.Created by SoftBank based on respectiavailable information.Communication ARPU for personal seg

Unique increatrend

(FY01~12)

Total of voice ARPU and packet ARPU fosmart ARPU

Mobile Telecom Service Revenue

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2007 ’08 ’09 ’10 ’11 ’12 (FY)

Steady g9% incre

1,174.91,080.1

Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3


(JPY bn)

956.4

844.7778.6766.5


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2007 ’08 ’09 ’10 ’11 ’12 (FY)

Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3

Data

revenue+17%

Voice revenue,

etc.477.0

483.6

697.8596.5

481.0

468.8

475.4

375.8

479.3

299.2

Signif

growtdat

547.3

219.2


(JPY bn)

Mobile Service Revenue

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+9%Except

momen

NTT DOCOMO au (KDDI) SoftBank*Created by SoftBank based on respective companieCommunication ARPU of personal segment for au’s.

Growth Rate (YoY)

*April to December (9-month period)

M bil EBITDA M i

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27%

38%

2002 ’03 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12

52%

*Mobile EBITDA Margin = Mobile EBIT(FY)

Improvdramati

（profitabil


(Q1-3)

(%)

55

50

45

40

35

30

25

M bil EBITDA M i

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GlN

15%


NTT DOCOMO

Verizon

AT&T

China Mobile

TeliaSonera

*Mobile EBITDA Margin = Mobile EBITDA/Mobile telecom serviComparison limited to operators disclosing mobile telecom s

mobile EBITDA. YTD

47%

40%

29%

49%

44%

SoftBank

７Mobile Operating Income

389 9

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2003 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12

Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3

57.2

Q1-3 Q1-3 Q1-3

７xpost-acqui

p g389.9

346.4

(JPY bn)

(FY)

Comprehensive Winner

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Comprehensive Winner

Net Additions

NTTDOCOMO

au(KDDI)

SoftBank

0.86m

1.71m

2.37m

*Apr. - Dec. FY12 for net additions. *ARPU excludes communication modules. Created by SoftBank based onrespective companies’ publicly available information.

*Total of voice ARPU and packet ARPU for DOCOMO’s FY12. Excludes Smart ARPU.

*Communication ARPU of pe

*Communication ARPU of personal segment for au’s FY12.

Telecom S

(4%)

NTTDOCOMO

ARPU

JPY 4,220

JPY 4,430

JPY 4,370

(JPY)

(FY)3,000

4,500

6,000

7,500

9,000

2001 ’ 02 ’03 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12

NTT DOCOMO

SoftBank

JPY 8,080

JPY 8,480

JPY 7,600

(Q3)

au(KDDI)

5 19mWILLCOM Subscribers

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May 2009 Dec. 2012Dec. 2010

5.19m

3.77m

Reco

hig

WILLCOM Subscribers

5.0

4.5

4.0

3.5

(m)

3.0

81.1Fixed-line Operating Income Hig

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2003 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12 (FY)

*Including Broadband Inf

0

Fixed-line Operating Income Hig

profitab

(JPY bn)

71.1

Q1-3 Q1-3 Q1-3 Q1-3 Q1-3Q1-3 Q1-3 Q1-3 Q1-3 Q1-3

（increased 14

Fixed-line Operating Income Growth Rate

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SB

BT

AT&T

BCE

NTT

Fixed line Operating Income Growth Rate

GlN

SoftBank

BritishTelecom

5.3%

2.1%

-5.4%

-6.0%

*SoftBank includes Broadband Infrastructure Business, while AT&T and BCE represents Wireline segment, and NTT represents Reg*Created by SoftBank based on respective companies’ publicly available information

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135 4Yahoo Japan Operating Income

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135.4

Record

since ince

Yahoo Japan Operating Income

(JPY bn)

(FY)

121.2

Q1-3 Q1-3 Q1-3 Q1-3 Q1-3Q1-3 Q1-3 Q1-3 Q1-3 Q1-3 Q1-3

2002 ’03 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12

Accelerated pro

Google Play Global Top Sales Ranking SoftBank’s votin33.7%

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DragonFight for KakaoNext Floor Globa

LINE POPNHN

Anipang for KakaoSUNDAYTOZ

아이러브커피 for Kakao

PATISTUDIO

Android

Japan No.1 o

33.7%

*Sales in December 20

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Overcame hurdles,

enhanced competitivene

CoSales/BrandDevice

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Tackle the Last Hurd

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Connect Anyw

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ConnectivSpeed ×

Network Satisfaction

（voice & data）

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ConnectivSpeed ×


（voice & data）

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15Mbp10Mbps

5km

5kmJudged the fastest

operator

Subscribers from each operator

used the app to measure speed

(Source) RBB TODAY press release (Jan. 23, 2013)

Measured period：Oct. 1 - Dec. 31, 2012

Judged based on average speed (downlink) within a 5 km X 5 km area obtained for each of

the operators in the scope of comparison..

No. of Spots Counted as Fastest(iOS+Android)

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(iOS Android)

Nofastest s

Average Speed (iOS+Android)

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Faste

NTT DOCOMO au (KDDI) SoftBank

3.9Mbps

3.0Mbps

6.0Mbps

Average LTE Speed (iOS)

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au (KDDI) SoftBank

11.5Mbps

6.2Mbps

Approx.

2x

Third-party LTE Survey

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242 spots 20217 spots

10

180 spots 12206 spots

15(349 spots)

(200 spots)

(291 spots)

(300 spots)

Kanto survey

Nation-widelandmarks

Shinkansenreception

Popular cities

MM Research Institute, next-generation high-speed communication (4G) smartpho(300 spots nation-wide/ Dec. 13, 2012)

ICT Research Institute, smartphone LTE speed survey at 97 Shinkansen stations(all 97 Shinkansen stations/ 291 spots/ Dec. 19, 2012)

Source: Kakaku.com iPhone 5 speed survey (Kanto 349 spots/ Nov. 8 - 20, 2012)ICT Research & Consulting, Smartphone LTE speed survey(200 spots nation-wide/ Nov. 6, 2012)

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ConnectivSpeed ×


（voice & data）

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Platinum Ba

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Video

Platinum Band Base Stations(Basestations, k)

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10

0

5

15

July2012

Jan.2013

Dec.Nov.Oct.Sept.Aug. Feb. Mar.

Target in FY2012(submitted plan)16k

(Basestations, k)

Platinum Band Base Stations

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Exceeded Achiev

2 months of sche

16k

July2012

Jan.2013

Dec.Nov.Oct.Sept.Aug. Feb. Mar.

10

0

5

15

Target in FY2012(submitted plan)

16k

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CallConnection

Rate

Call Connection Rate

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130k call data / month

Research ccalling s

Call

Users of different operators(agreed to participate in the survey)

99

(%) Call Connection Rate (Japan) SoftBank (iPhone)

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96

97

98

2012/7/24 1/29

98.0％

98.3％

au (iPhone)

NTT DOCOMO(Android)

98.4%

97.3%

*Surveyed by IPSOS. Actual connection to unspecified users who agreed to partSoftBank: iPhone 4S and iPhone 5 useNTT DOCOMO: Android users: 44,000 au: iPhone 4S and iPhone 5 users: 24,0

Majoimprove

100Tokai

Call ConnectionRate

(%)

SoftBank

M j

7/29/2019 02-17-13 results_Q3-1


7/96

97

98

9997

98

99

7/24 1/29

99.2％

96

97

98

99

100

NTTDOCOMO

Kansai

7/24 1/29

98.0％

98.9％

SoftBank

(%)

au (KDDI)98.2％

98.1％

98.5％

Rate SoftBank

NTTDOCOMO

au (KDDI)

(%)

Majimprov

*Surveyed by IPSOS. Actual connection rate on calls madeto unspecified users who agreed to participate in the survey.SoftBank: iPhone 4S and iPhone 5 users.NTT DOCOMO： Android smartphone users.au: iPhone 4S and iPhone 5 users

(Kanto) SoftBank: 26,400 calls/ month, NTT DOCOMO: 21,200 cal

(Tokai) SoftBank: 8,400 calls/ month, NTT DOCOMO: 4,400 calls/ m

(Kansai) SoftBank: 14,000 calls/ month, NTT DOCOMO: 8,800 calls

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DataConnection

Rate

Data Connection Rate

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Analyze approx. 30m datacommunication logs per month

Users agreed to providedata to the app

Datacommunication log(excl. personal info)

(Disaster warning app, etc.)

Data source: Yahoo Japan Corporation

(%)

Data Connection Rate(Nation-wide Platinum Band smartphones)

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94

95

96

97

98

Jan. 11 Jan. 29

96.9％

au (KDDI)

95.9％

97.3% SoftBank

*Data source: Yahoo Japan CoData aggregated through the disetc. provided by Yahoo Japan wUse approx. 30m communicatio

No.data connect

NTT DOCOMO

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孫正義

@masasonOne day we will have a better network than DOCOMO.

It will take some time but my pwill not allow me to fail.Sept. 23, 2010 - 14

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We are not satisfied y

Platinum Band Base Stations

S b itt d l t MIC

(Basestations, k)

40

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36k

Jan. 2013exceeds16k

July2012

Mar.2013

Mar.2014

Mar.2015

Accelerconstruc

Submitted plan to MIC

20

0

10

30

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1.7GHz made LTEcompatible(Coming soon)

iPad mini iPad with Retina DispiPhone 5

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Connect Anywhere with Sof

FY2012 (Forecast)

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Exceed

JPY 700 billio

Domestic Consolidated Operating

FY2012 (Forecast)

(USD 7.7bn)

FY2013 (Forecast)

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JPY 800 billio

FY2013 (Forecast)

(USD 8.8bn)

Domestic Consolidated Operating (Japan-GAAP)

NTT DOCOMO

Operating Income(JPY bn)

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2005 ’06 ’07 ’08 ’09 ’10 ’11 ’12 ’13

KDDI 505.0

820.0

NTT DOCOMO

0(FY)

*Created by SoftBank basedavailable information.

Stable gr

800.0(Japan)

(USD 8.8bn)SoftBan

(forecast)

FY2013 (Forecast)

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Approx. JPY 700 billion

FY2013 (Forecast)Consolidated Operating Incom

Including Overseas Business(IFRS)

(USD 7.7bn)

FY2014 (Forecast)

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FY2014 (Forecast)Consolidated Operating Incom

Including Overseas Business(IFRS)

RecordHigh Profit

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+

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1. Smartphones

2. Network

3. Turnaround track record

Synergies enhance competitive

28 8

(m) Number of Smartphones Sold

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28.8

21.7

8.8

26.9

5.6

Economies o

with No. 3 poin Japan &

*VerizVerizon AT&T KDDINTTDOCOMO

SoftBankSprint

(USD bn) Mobile CAPEX

20.6

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*SoftBank + Sprint: FY2012 forecVerizon: FY2012 actual resultsOthers: FY2011 results

0 6

10.810.1

13.3

China Mobile VerizonAT&T Vodafone(Consolidated)

KDDINTTDOCOMO

8.9 8.4

3.5

SoftBankSprint

Economies o

with No. 2 po

*Created by SoftBank based on resppublicly available information.

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Proven turnaround track reco

2002 ‘11

429.2bn

$76.3bn

(FY) May 2009

3

2000 ’11(FY)

-105.8bn

92.3bn


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2002 ’03 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12

52%

27%

38%

*Mobile EBITDA Margin = Mobile EBITDA/Mobile Telecom Service Revenue(Q1-3)

(FY)

60

40

20

(%)

2006 ’07 ’08 ’09 ’10 ’11 ’12

16%

（ YTD）

36%

60

40

20

(%)

Turnabeg

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Summary

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1. Domestic operating inco

JPY 800 billion

2. Connect anywhere

3. Drive growth withoverseas opportunities

(FY2013)(USD 8.8bn)

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1. Application of accounting standard for disclosure on segments

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The “Accounting Standard for Disclosures about Segments of an Enterprise and Related Information” and related “Guidance on the Accounting Standard for Disclosures abo

Enterprise and Related Information” are applied from FY2010/Q1. Financial results for 2010/3 are shown based on the new standard for comparison purposes only and have

reviewed by our independent auditors. All financial information for 2010/3 presented herein based on the new standard are subject to our audited and reviewed financial repo

corresponding periods.

2. Definition of terms etc. in this material.

Free cash flow (FCF): cash flows from operating activities + cash flows from investing activities.

EBITDA: operating income (loss) + depreciation and amortization (including amortization of goodwill).

Net interest-bearing debt: interest-bearing debt - cash position

Interest-bearing debt: short-term borrowings + commercial paper + current portion of corporate bonds + corporate bonds + long-term borrowings. Lease obligations are not in

corporate bonds (WBS Class B2 Funding Notes, issued by J-WBS Funding K.K.) with a face value of JPY 27.0bn acquired by SoftBank Corp. during 2010/3 that were issued

securitization financing scheme associated with the acquisition of Vodafone K.K.

Cash position: cash & cash deposits + marketable securities recorded as current assets. (excludes Yahoo! Inc. shares which were held by a subsidiary of SoftBank Corp. in th

Record high, record high revenue: since SoftBank Corp. applied consolidated accounting in 1995/3.

3. Trademarks and registered trademarks

The names of other companies, other logos, product names, service names, brands, etc., mentioned in this material are registered trademarks

or trademarks of SoftBank Corp. or the applicable companies.

Unauthorized copying of this material and use of the information or the data in this material in whole or in part are not permitted.

- Apple, the Apple logo, iPhone and iPad are trademarks of Apple.

- The trademark “iPhone” is used with a license from Aiphone K.K.

SoftBank Corp. owns 100% shares issued by WILLCOM, Inc. However, WILLCOM, Inc. is in the process of reorganization under the Corporate Reorganization Act and thave effective control over WILLCOM, Inc. Therefore, WILLCOM, Inc. is not treated as a subsidiary.

02-17-13 results_Q3-1

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