Internet business investor Softbank Corp. dipped into the red in the year that ended March 31, due to costs to build infrastructure for broadband online services and a devaluation of the firm's stockholdings, company officials said Friday.
The firm posted a consolidated net loss of 88.76 billion yen in the 2001 business year, compared with a profit of 36.63 billion yen the previous year. It was the the first net loss for Softbank since it introduced consolidated book closings in fiscal 1994.
The firm also incurred a consolidated pretax loss of 33.3 billion yen, a sharp plunge from the 20.07 billion yen pretax profit in 2000.