Softbank Corp. · TSE:9434
Softbank — Japan Telecom Holdings — FY2002 Earnings Presentation
48 slides from Softbank's earnings presentation, May 27, 2003
Slide 1: Japan Telecom Holdings
Japan Telecom Holdings 2003 3 2003 5 27 1
Slide 2: E. J- J-
( ) E. J- J- CFO 2003 3 : 2
Slide 3: J- J- ( ) 2003 :
J- 1 4 2 9 3 J- 15 4 ( ) 30 5 44 2003 3 : 3
Slide 4: Section 1
J- 1 1: 4
Slide 5: J- • • • • • 1:
J- • • • • • 1: 5
Slide 6: go BARFLI ARIF IAM
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Slide 7: Consolidated Highlights
Consolidated Highlights J- 2002 ( ) – 2003 3 • 5.5 270 • 267 270 • 1,454 150 – EBITDA 30.3% – – 1580 J- • • 2 – • • – – • EBITA – 3G/ • – 1: 2002 7
Slide 8: Consolidated Highlights
Consolidated Highlights J- • 5.5% • 1,455 1,900 100 80 1,797 1,800 60 40 65 1,704 1,770 20 1,700 0 -20 1,600 -40 -60 1,500 -65.9 -80 FY01 FY02 FY01 FY02 1: 8
Slide 9: Section 2
J- 2 2: 9
Slide 10: J- • – 5.5 – – 1,454 • – • – ( 3557 2793
J- • – 5.5 – 267 – 1,454 • – • – ( 3557 2793 ) • – 1,580 2: 10
Slide 11: ( ) FY FY / /
J- • ( ) FY 01 FY 02 / / FY01 1,704 1,770 1,797 5.5% 1.5% J- 1,351 - 1,461 8.1% * 347 - 340 (2.2%) 89 252 276 209.2% 9.4% 74 245 272 267.2% 10.9% (66) 65 80 - 22.3% EBITDA 20.1% - 30.3% 10.2pp - EPS (¥ ‘000) (20.6) 20.3 24.9 - 22.3% 2: 11
Slide 12: Section 2
J- 2: 12
Slide 13: EBITDA
J- • : ( ) FY01 FY02 % 299 496 65.7 (402) (162) (59.6) (352) (342) (3.0) * 451 356 (21.1) % 26.5% 19.8% % EBITDA 131.9% 65.4% 223 252 12.8 EBITDA 342 544 59.2 ** (151) 140 - * 2: 13
Slide 14: Reduced Net Debt, Strengthened Capital Structure
J- Reduced Net Deb t strengthened Capital Structure ( ) FY01 FY02 1,037 879 402 158 * 264.9% 188.5% ** 14.1 55.6 * = / ** = / 2: 14
Slide 15: J-Phone
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Slide 16: EBITDA
J- • 18.5% 2003 3 • 12.7% • – – 3G – “ ” – QVGA 2G/2.5G • 21.7% 2003 3 • • EBITDA 20.7% 30% J- 3 16
Slide 17: ARPU and 2.5G
J- 18.5% 3 1.93% (3 ) 2003 10 ARPU ARPU 21.7% 3 910 170 3 6% 2.5G 170 3 3G 2003 2G aa 1 EBITDA 30% 2003 6 J- Vodafone live! J- 3 17
Slide 18: EBITDA FY01 FY02
J- • ( ) FY01 FY02 % 1,351 1,461 8.1 1,026 1,157 12.7 1,243 1,217 (2.1) 107 244 127.3 97 240 146.2 35 138 283.9 EBITDA 20.7% 30.0% 9.3pp J- 3 18
Slide 19: Operating Profit Improvements in FY02
J- Operating Profit Improvements in FY02 350 300 250 200 2002 150 100 2001 50 0 J- 3 19
Slide 20: J- J- FY99
J- J- . 30.4% 29.6% 29.9% 27.6% 29.6% 15,000,000 22.1% 24.1% 22.5% 10,000,000 FY01/Q2 FY01/Q4 FY02/Q2 FY02/Q4 18.5% 5,000,000 17.7% 16.4% 0 16.0% 2000/9 2001/3 2001/9 2002/3 2002/9 2003/3 FY99 FY00 FY01 FY02 J- 3 20
Slide 21: ARPU and MOU
J- ARPU MOU ARPU ARPU( ) 7,900 7,500 7,900 7,400 7,180 7,350 8,000 20.0% 6,000 21.1% 19.5% 4,000 15.5% 14.6% 10.0% 9.9% 2,000 6.8% ARPU 0 0.0% ( FY00/1H FY00/2H FY01/1H FY01/2H FY02/1H FY02/2H J- 3 21
Slide 22: J- FY01/ Q1
J- • • 3.00% • 2.00% 40,000 1.00% FY01/ Q3 FY02/ Q3 37,600 6% Q1 Q1 4.00% 2.00% FY01 FY02 0.00% FY02/ Q2 Q3 Q4 Q1 J- 3 22
Slide 23: Objective: Aim to Gain
J- Objective 2003 Aim to Gain 2.5G 3G J- 70 J- J- 3 2003 Aim to Gain 23
Slide 24: 3G
J- 3G 40 K 15 K 13.3K 30 K 10 K 20 K 5.6K 10 K 5K 3.5K 0K 2002/12 2003/01 2003/02 2003/03 2003/04 0K 2002/12/20 2003/04/01 2003/10 400 300 PDC 200 100 0 FY2001 FY2002 FY2003 J- 3 3G 24
Slide 25: Objective
J- Objective J- 3 25
Slide 26: October 2003
J- Objective October 2003 J- 3 26
Slide 27: Objective: Before After
J- Objective Before After J- 3 27
Slide 28: J- FY02/1Q J-
J- 900,000 • • • • 700,000 500,000 FY02/1Q FY02/2Q FY02/3Q FY02/4Q J- Section 3 : 28
Slide 29: J- J- • • • J-
J- J- • • • J- 3 29
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Slide 31: Section 4
J- 4: 31
Slide 32: FY97-FY00 FY01
PROSJELT FY97-FY00 FY01 2001
Slide 33: J- 2.2% 14.8% 38.4% 1180 4:
J- 2.2% 14.8% 930 38.4% 1180 4: 33
Slide 34: ( ) FY01 FY02 %
J- • ( ) FY01 FY02 % 347.8 340.1 ( 2.2 ) 369.2 314.5 ( 14.8 ) 21.4 25.6 (19.2 ) 28.7 (77.0) 15.7 EBITDA 44.9 92.3 105.4 EBITDA 12.9% 27.2% 14.2 pp 4: 34
Slide 35: ODN Managed VPN
J- • – – – – • – • ODN Managed VPN Wide-Ether Managed CPE • ODN Managed VPN Suite • – – 4: 35
Slide 36: SOLTERIA Wide-Ether
J- : SOLTERIA Wide-Ether (SOLTERIA) (Wide Ether) ( ) ARPU 40,000 4,000 200,000 Wide-Ether 30,000 3.000 160,000 SOLTERIA 120,000 20,000 2.000 Wide-Ether 80,000 SOLTERIA 10,000 1.000 40,000 0 0 0 FY01/1H FY01/2H FY02/1H FY02/2H FY01/1H FY01/2H FY02/1H FY02/2H 4: : 36
Slide 37: VoIP ADSL
J- : VoIP ADSL ( ) ( ARPU 1,800,000 400,000 6,000 ODN dial-up ADSL 5,000 ODN 1,600,000 300,000 dial-up 4,000 1,400,000 200,000 3,000 ADSL 2,000 1,200,000 100,000 1,000 1,000,000 0 0 FY01/1H FY01/2H FY02/1H FY02/2H FY01/1H FY01/2H FY02/1H FY02/2H 4: : 37
Slide 38: FY01/1H FY01/2H FY02/1H
J- ( ) 40,000 30,000 20,000 10,000 0 FY01/1H FY01/2H FY02/1H FY02/2H ADSL ODN 4: 38
Slide 39: ARPU
J- ARPU - ( ) ARPU ( ) 700 6,000 600 5,000 500 4,000 400 3,000 300 2,000 200 100 1,000 0 0 FY01/1H FY01/2H FY02/1H FY02/2H FY01/1H FY01/2H FY02/1H FY02/2H 4: 39
Slide 40: FY01 FY02
J- : - - ( ) FY01 44.5 69.7 27.6* 206.2 FY02 37.5* 87.5* 32.6* 182.5* ( 15.4%) ( + 25.6%) ( + 18.1%) ( 11.5%) 4: : 40
Slide 41: Project V
J-Phone Japan Telecom Project V • 4 2 3,690 • IVR • Web e- • • 20 3,150 4: 41
Slide 42: J- • V – – • – • • 4:
J- • V – – • – • • 4: 42
Slide 43: J- 2003 1. 2. 2-1 z 1-1 z z z z z 2-2 1-2
J- 2003 1. 2. 2-1 z 1-1 z z z z z 2-2 1-2 z z z z 3. 1-3 z z 3-1 z z 1-4 z z z 3-2 z z z 4 : 2003 43
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Slide 45: FY2003 outlook
J- 2003 2003 • 3G • • DSL ( ) FY02 FY03 1,797 1,865 272 213 80 62 5 2003 45
Slide 46: J- • • • • •
J- • • • • • 5 46
Slide 47: A member of the Vodafone Group
A member of the Vodafone Group 47
Slide 48: J- J- J-
200 J- J- J- G J- G J- J- J- J- G J- J- J- 2000 Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 2001 19 1 2001 49 1 48
Japan Telecom Holdings — FY2002 Earnings Presentation on 6ix