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May 14May 14thth , 2008, 2008
eAccess LimitedeAccess Limited【【94279427】】
Full Year Result for Fiscal Year Ended 3/2008Full Year Result for Fiscal Year Ended 3/2008((4/20074/2007 ~~ 3/20083/2008))
2
III.III. Business StrategyBusiness Strategy
I.I. FY3/2008 Full Year Financial Results OverviewFY3/2008 Full Year Financial Results Overview
II.II. FY3/2008 Full Year Financial Results and FY3/2009 OutlookFY3/2008 Full Year Financial Results and FY3/2009 Outlook
Page 3
Page 16
Page 6
IV. AppendixIV. Appendix Page 32
‐‐Network BusinessBusiness
‐ EMOBILE
- Device Business Page 22
Page 17
Page 24
3
III.III. Business StrategyBusiness Strategy
ⅠⅠ..FY3/2008 Full Year Financial Results OverviewFY3/2008 Full Year Financial Results Overview
ⅡⅡ..FY3/2008 Full Year Financial Results and FY3/2009 OutlookFY3/2008 Full Year Financial Results and FY3/2009 Outlook
Page 3
Page 16
Page 6
IV.IV. AppendixAppendix Page 32
‐‐Network BusinessBusiness
‐ EMOBILE
- Device Business Page 22
Page 17
Page 24
4
Launched mobile voice services on March 28, 2008Achieved accumulated subscribers of 411,500 as of March 2008Achieved population coverage of approx. 80% as of March 2008
ADSL monthly churn remained low at 1.88%Increase in ADSL market share through new partners & channelsRevenue contribution from Device & Backbone Businesses
Consolidated revenue up 20% and operating profits up 7x.Recovery in consolidated earnings following the accounting changes. Executed cash dividend of 2,300 yen & share buyback of 3.0 billion yen
Financials
eAccess
EMOBILE
FY3/2008 Financials and Operational HighlightsFY3/2008 Financials and Operational Highlights
(Equity accounting method since
5/31/2007)
5
Financials
eAccess
EMOBILE
FY3/2009 Financial and Operational OutlookFY3/2009 Financial and Operational Outlook
Recovery in consolidated earnings outlook.Expect consolidated revenue up 18% and operating profit up 79%.Maintain cash dividend of 2,300 yen per share. Discontinue Rights Plan.
Expand market share and maintain low ADSL churn.Maintain profitability and operating free cash flow.Expect both Device and Backbone Businesses to turn profits.
Increasing demand for mobile broadband services.Quarterly EBITDA losses expect to shrink.(Equity accounting method since
5/31/2007)
6
III.III. Business StrategyBusiness Strategy
ⅠⅠ..FY3/2008 Full Year Financial Results OverviewFY3/2008 Full Year Financial Results Overview
‐‐Network BusinessBusiness
‐ EMOBILE
ⅡⅡ..FY3/2008 Full Year Financial Results and FY3/2009 OutlookFY3/2008 Full Year Financial Results and FY3/2009 Outlook
- Device Business
Page 3
Page 16
Page 22
Page 17
Page 6
Page 24
IV.IV. AppendixAppendix Page 32
7
RevenueRevenue
Net incomeNet income
CapexCapex
FY3/2008 (4/2007 FY3/2008 (4/2007 –– 3/2008)3/2008)
(billion yen)
FY3/2008 Financial ResultsFY3/2008 Financial Results
Operating profitOperating profit
Recurring profitRecurring profit
・FY3/2007 included 7.24 billion yen and FY3/2008 included 2.61 billion yen of minority adjustments in net income lines.・FY3/2008 parent net income line included 3.5 billion yen of gain on EMOBILE share sales.
DepreciationDepreciation
EBITDAEBITDA
EM etc.equity acc.
6/2007~Mobile
(4-5/2007)Parent Cons.
Thanks to the change in accounting method.Thanks to the change in accounting method.Consolidated revenue increased by 20% and operating profit incrConsolidated revenue increased by 20% and operating profit increased 7x.eased 7x.
Operating FCFOperating FCF
FCF (after tax)FCF (after tax)
1.51
-4.24
-4.50
-2.00
-3.30
8.31
0.94
- 13.51
67.26
12.28
10.59
8.45
19.58
5.88
7.30
-11.6113.70
na9.87
67.56
7.09
-8.37
-6.35
15.38
14.25
8.28
1.13
na
Mobile
FY3/2007 (4/2006 FY3/2007 (4/2006 –– 3/2007)3/2007)
Parent Cons.
0.52
-11.47
55.98
12.53
11.38
6.63
7.88
8.81
56.25
1.05
-1.56
0.91
10.44
38.70
9.40
21.34
13.46 -28.26
-12.93
-12.94
-10.97
30.83
0.50
-418.0
7.56 nana
8
FY3/2009 Financial OutlookFY3/2009 Financial Outlook
FY3/2009 (4/2008 FY3/2009 (4/2008 –– 3/2009)3/2009)
ConsolidatedConsolidated
FY3/2008FY3/2008 FY3/2009FY3/2009 Diff.Diff.(%)(%)(billion yen)
RevenueRevenue
Operating ProfitOperating Profit
Recurring ProfitRecurring Profit
Net IncomeNet Income
EBITDAEBITDA
CapexCapex
DepreciationDepreciation
Operating FCFOperating FCF
・FY3/2008 parent net income line included 3.5 billion yen gain on EMOBILE share sales.
FCF (after tax)FCF (after tax)
Expect consolidated revenue to increase by 18.4% and operating pExpect consolidated revenue to increase by 18.4% and operating profit to increaserofit to increaseby 79.1% by 79.1% YoYYoY mainly due to contribution of Device and Backbone businesses.mainly due to contribution of Device and Backbone businesses.
+ 18.4%
+ 79.1%
na
na
+ 24.2%
- 66.3%
- 22.7%
+1,165.5%
na
80.00
12.70
-6.10
-10.30
19.10
4.80
6.40
14.30
na
67.56
7.09
-8.37
-6.35
15.38
14.25
8.28
1.13
na
ParentParent
FY3/2008FY3/2008 FY3/2009FY3/2009 Diff. (%)Diff. (%)
80.00
12.70
10.70
6.50
19.10
4.80
6.40
14.30
+ 18.9%
+ 3.4%
+ 1.1%
- 23.1%
- 2.5%
- 18.4%
- 12.3%
+4.4%
8.10 - 17.9%
67.26
10.59
8.45
19.58
5.88
7.30
13.70
9.87
12.28
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RevenueRevenue
Net IncomeNet Income
CapexCapex
(billion yen)
Operating ProfitOperating Profit
Recurring ProfitRecurring Profit
DepreciationDepreciation
EBITDAEBITDA
FY 3/2007
Accumulated SubscribersAccumulated Subscribers
14.50
- 38.21
- 41.96
- 42.02
- 27.59
98.21
10.62
411,500
FY 3/2008
0.52
- 11.47
- 12.93
- 12.94
- 10.97
30.83
0.50
9,500
Growth in mobile broadband subscribers was fasterGrowth in mobile broadband subscribers was faster--thanthan--expectations.expectations.
EMOBILE Financial and Operational ResultsEMOBILE Financial and Operational Results
10
EMOBILE Balance SheetEMOBILE Balance Sheet
Maintained 94 billion yen cash position and a 140 billion yen unused commitment line as of 3/2008Maintained 94 billion yen cash position and a 140 billion yen unused commitment line as of 3/2008
UnusedCommitment Line
140 billion yen+
Low net debt position
-119.87+104.05
-79.18-40.69
FY3/2008
15.1%250.3086.3913.05
106.79126.0893.74
As of 3/2008
Cash Flows
(billion yen)
Balance Sheet
(billion yen)
+45.05Financing CF
FY3/2007
-84.2%Net Debt/Equity
-15.47Operating CF-10.70Investing CF
37.17Fixed Assets109.56Cash
128.41Equity-108.11Net Debt
1.45Debt
-26.17Operating FCF
156.26Total Asset
As of 3/2007
-119.87+104.05
-79.18-40.69
FY3/2008
15.1%250.3086.3913.05
106.79126.0893.74
As of 3/2008
Cash Flows
(billion yen)
Balance Sheet
(billion yen)
+45.05Financing CF
FY3/2007
-84.2%Net Debt/Equity
-15.47Operating CF-10.70Investing CF
37.17Fixed Assets109.56Cash
128.41Equity-108.11Net Debt
1.45Debt
-26.17Operating FCF
156.26Total Asset
As of 3/2007
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Subscriber and Consolidated Revenue TrendSubscriber and Consolidated Revenue TrendADSL & ISP subscriber trend was inADSL & ISP subscriber trend was in--line with expectations.line with expectations.
Growth in consolidated revenue was driven by Device & Backbone BGrowth in consolidated revenue was driven by Device & Backbone Businessesusinesses
ADSL・ISP Subscribers Revenue(Consolidated)
(million yen)(千回線)
EMOBILE is accounted under equity accounting method from 5/31/2007. On a consolidated basis, 2006/4Q includes 1 month and 2007/1Q includes 2 months of EMOBILE revenue.
(Thousand subscribers)
1,930 1,924 1,925 1,925 1,912 1,895 1,876
260 249 239 230 222 216 209 200
1,843
0
400
800
1,200
1,600
2,000
2,400
2006/1Q 2006/2Q 2006/3Q 2006/4Q 2007/1Q 2007/2Q 2007/3Q 2007/4Q
ISP
ADSL 2,164 2,155 2,135 2,112 2,085 2,043
2,1732,190
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
2006/1Q 2006/2Q 2006/3Q 2006/4Q 2007/1Q 2007/2Q 2007/3Q 2007/4Q
14,15715,037
13,84013,96214,29115,104 15,138
22,286
12
4,300
2,257
2,9953,0763,2003,262
2,9752,749
22.8% 22.9% 22.2%
14.9%
19.7%21.6%
19.7%18.6%
0
1,000
2,000
3,000
4,000
5,000
2006/1Q 2006/2Q 2006/3Q 2006/4Q 2007/1Q 2007/2Q 2007/3Q 2007/4Q0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
営業利益(単体)営業利益率 (%)(単体)
3,440
2,245
2,914
-1,506-2,319-533
1,740
2,162
15.4%
14.8%
19.4%
-10.0%
-16.4%
-3.9%
12.5%15.1%
-3,000
-2,000
-1,000
0
1,000
2,000
3,000
4,000
5,000
2006/1Q 2006/2Q 2006/3Q 2006/4Q 2007/1Q 2007/2Q 2007/3Q 2007/4Q-20.0%
-10.0%
0.0%
10.0%
20.0%
30.0%営業利益
営業利益率 (%)
(million yen)(million yen)
Consolidated operating profit bottomed in 4Q FY2006 and a recoveConsolidated operating profit bottomed in 4Q FY2006 and a recovery from FY2007.ry from FY2007.Slight decline in consolidated operating margin due to the increSlight decline in consolidated operating margin due to the increase in revenue from Device Businessase in revenue from Device Business
Operating Profit TrendOperating Profit Trend
Operating Profit & Operating Margin Operating Profit & Operating Margin (Consolidated)(Consolidated)
Operating Profit & Operating MarginOperating Profit & Operating Margin(Parent) (Parent)
Operating Profit Operating Margin (%)
Operating Profit Operating Margin (%)
EMOBILE is accounted under equity accounting method from 5/31/2007. On a consolidated basis, 2006/4Q includes 1 month and 2007/1Q includes 2 months of EMOBILE revenue.
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Capex and Operating FCF TrendCapex and Operating FCF Trend
(million yen)
(million yen)
Operating FCF Trend(Parent)
Capex Trend(Parent)
Maintained high operating free cash flow at approximately 3 billMaintained high operating free cash flow at approximately 3 billion yen every quarterion yen every quarter
* Operating FCF = EBITDA - Capex
1,457
955
2,080
3,387
1,313 1,2631,099
2,202
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
2006/1Q 2006/2Q 2006/3Q 2006/4Q 2007/1Q 2007/2Q 2007/3Q 2007/4Q
4,497
3,106
1,621
2,935
3,8383,5763,357
4,234
0
500
1,000
1,500
2,0002,500
3,000
3,500
4,000
4,500
5,000
2006/1Q 2006/2Q 2006/3Q 2006/4Q 2007/1Q 2007/2Q 2007/3Q 2007/4Q
EMOBILE is accounted under equity accounting method from 5/31/2007. On a consolidated basis, 2006/4Q includes 1 month and 2007/1Q includes 2 months of EMOBILE revenue.
14
Balance SheetsBalance Sheets
Maintained solid balance sheet with parent NetMaintained solid balance sheet with parent Net--DebtDebt--toto--Equity Ratio at 89.6%Equity Ratio at 89.6%
Cash and Cash Deposit
Debt
Total Shareholders’ Equity
Total Asset
Net Debt//Equity Ratio (%)
Net Debt
Minority Interest
(billion yen)
As of March 31, 2007 As of March 31, 2008
51.01
37.44
--
139.57
39.59
94.6%
88.45
160.93
-71.03
77.09
237.84
32.89
-215.9%
89.90
46.84
37.67
--
142.45
42.03
89.6%
84.51
47.62
36.89
0.60
121.59
20.54
179.6%
84.51
Parent ConsolidatedParent Consolidated
15
39.3%
16.9%
39.1%
28.1%
50.1%
0
500
1,000
1,500
2,000
2,500
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
**11
**22 Based on the stock priceon May 13, 2008 of 65,700 yen.
Based on the March end stock priceof each fiscal year.
Shareholders ReturnShareholders Return
DividendDividendYieldYield 1.32% 1.43%
(Dividend payout ratio- eAccess parent basis)(Dividend per share, yen)
3.75%**11 **11 **11 Among highest Among highest
dividend yield dividend yield in Japanin Japan
2.30%**11
DividendDividend Share Buyback
1,300 yen1,200 yen
1,800 yen
2,300 yen
3/2005 3/2006 3/2007 3/2008
Amount ofAmount ofSharesShares
PurchasedPurchased
No. of No. of SharesShares
PurchasedPurchased
ActualActual
2,999,955,600 yen2,999,955,600 yen
44,741 shares44,741 shares
**Approx. 3.1% of total Approx. 3.1% of total outstanding shares outstanding shares as of March 31, 2008as of March 31, 2008
Completed share buyback at the end of Dec 2007.Completed cancellation of treasury stocks in Apr 2008.
3/2009E
3.50%**22
2,300 yen
Expect FY3/2009 dividend pay ratio based on parent net profit toExpect FY3/2009 dividend pay ratio based on parent net profit to be 50.1%be 50.1%Cancelled approx. 3 billion yen treasury stocks in April 2008Cancelled approx. 3 billion yen treasury stocks in April 2008
16
III.III. Business StrategyBusiness Strategy
ⅠⅠ..FY3/2008 Full Year Financial Results OverviewFY3/2008 Full Year Financial Results Overview
‐‐Network BusinessBusiness
‐EMOBILE
ⅡⅡ..FY3/2008 Full Year Financial Results and FY3/2009 OutlookFY3/2008 Full Year Financial Results and FY3/2009 Outlook
- Device Business
Page 3Page 3
Page 16Page 16
Page 22Page 22
Page 17Page 17
Page 6Page 6
Page 24Page 24
IV.IV. AppendixAppendix Page 32Page 32
17
Network BusinessNetwork Business
18
Network Business StrategyNetwork Business Strategy
ADSL Business
Continue to expand ADSL market share in FY3/2009
Promotion of mobile broadband bundled service through EMOBILE alliance
Expand distribution channels with new alliance partners
Sustain low churn rate by cooperating with partner ISPs
ISP Business
Focus on subscriber new addition through web channels
MVNO Business
Increase MVNO partners and value-added service menus
Backbone Business
Improvement in operating margins by improving network efficiency
19
v
14.3%14.1%
13.9%13.7%
13.5%
12.5%
13.0%
13.5%
14.0%
14.5%
15.0%
3Q/FY06 4Q/FY06 1Q/FY07 2Q/FY07 3Q/FY07
ADSL Market Share and Churn Rate TrendADSL Market Share and Churn Rate Trend
eAccess ADSL Market Share Trend eAccess ADSL Churn Rate Trend
Source: MIC (as of December 2007)Source: MIC (as of December 2007)
Gradual increase in ADSL market share due to price competitiveness and channel expansionMaintained monthly ADSL churn rate at 1.88%, decreased 0.03% point YoY
Gradual increase in ADSL market share due to price competitiveness and channel expansionMaintained monthly ADSL churn rate at 1.88%, decreased 0.03% point YoY
1.95%1.78%
1.74%2.04%
2.08% 1.85%
1.79% 1.96%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
1Q 2Q 3Q 4Q
3/20083/2007 January: 1.77%
February: 1.90%March: 2.21%
January: 1.77%February: 1.90%March: 2.21%
FY3/2007FY3/2007
FY3/2008FY3/2008
20
MVNO partners
MVNO BusinessMVNO Business
@nifty
BIGLOBE
@nifty
BIGLOBE
So-net
ASAHInet
@T COM
U-netSURF
FY3/2009 4/2008 ~12/2007 3/2008
Addingmore
partners
Started Japan’s first high speed mobile data service to MVNOs from December 2007Acquired 6 MVNO partners as of March 2008
Provide Provide wirelesswireless
network servicenetwork service
Provide valueProvide value--added added services (network/services (network/infrastructure etc.)infrastructure etc.)
MobileMobile
MobileMobile++
FTTHFTTH
MobileMobile++
ADSLADSL
MobileMobile++
NarrowNarrowbandband
END USERSEND USERS
2121
Tokyo
NagoyaOsaka
Okayama
Sapporo
Fukuoka
0
5
10
15
20
25
30
35
1 2
Backbone BusinessBackbone Business
BackboneNetwork
BackboneNetwork
((billion yenbillion yen))
FYFY3/20073/2007 FYFY3/20083/2008
0.250.25
3.273.27
◆◆Revenue TrendRevenue Trend◆◆
SendaiSendai
13X13X
Share existing nationwide ADSL backbone network with EMOBILE.Share existing nationwide ADSL backbone network with EMOBILE.Achieved 13X revenue growth Achieved 13X revenue growth YoYYoY and turned profits in FY3/2008and turned profits in FY3/2008
Backbone ring network(example)
22
Device BusinessDevice Business
23
0
2
4
6
8
10
12
14
Device Business UpdateDevice Business UpdateProvided 7 types of terminals to EMOBILE since June 2007Provided 7 types of terminals to EMOBILE since June 2007
Achieved annual revenue of 13 billion yen due to betterAchieved annual revenue of 13 billion yen due to better--thanthan--expected subscriber growthexpected subscriber growth
(billion yen)
Q1 Q2 Q3 Q4
0.2
1.7
3.3
13.1
FY3/2009~
Establishment in June 2007
EMOBILE voice service launch
USB ModemD01HWJune
EM・ONEαWindows Mobile 6
Mobile IP Phone (Jajah)October
7.2M USB ModemD02HW
December
7.2M PC CardD02NE
February
7.2M CF CardD02NX
February
Voice HandsetsS11HTH11T
Sales of 7.2M HSDPA terminal
YT
D R
even
ue T
rend
/ D
evic
e R
oadm
apE
vent
s
24
EMOBILEEMOBILE
25
Mobile Broadband and Voice ServicesMobile Broadband Mobile Broadband and Voice Servicesand Voice Services
累積加入者数200,000達成(12月)過去最高の月間純増数40,000以上を記録(12月)解約率は約1%と低い水準を維持
Accumulated subscribers were 411,500 as of March 2008Accelerating growth in quarter subscriber additionIncreasing demand for mobile broadband services
SubscribersSubscribersSubscribers
Service AreaService AreaService Area
Launched mobile data on March 2007 and voice serviceon March 2008Offer the most price competitive mobile broadband servicesUnique bundling package with ADSLMost competitive pricing mobile voice tariffs
EMOBILE HighlightsEMOBILE Highlights
Achieved approx. 80% population coverage as of March 2008 with our own network
26
Better-than-expected subscriber growth in FY3/2008. Achieved 411,500 as of March 2008.Accelerating net subscriber addition every quarter throughout FY3/2008.
Better-than-expected subscriber growth in FY3/2008. Achieved 411,500 as of March 2008.Accelerating net subscriber addition every quarter throughout FY3/2008.
Subscriber TrendSubscriber Trend
・・・Accumulated subscribers
・・・Monthly net addition
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
9,500
60,200
122,300
205,900
411,500
07/3 07/4 07/5 07/6 07/7 07/8 07/9 07/10 07/11 07/12 08/1 08/2 08/3
27
Achieved approx. 80% nationwide coverage with our own network (Orange)Launched voice service with approx. 15% roaming (Red)
Achieved approx. 80% nationwide coverage with our own network (Orange)Launched voice service with approx. 15% roaming (Red)
Area Coverage with Roaming
EMOBILE network NTT docomo Roaming
Total population coverage approx. 95%
Roaming price is 22.05 yen / 30 sec (tax included)
Our own fully nationwide network is planned for October 2010
+
Approx. 80% Approx. 15%
(as of 3/2008)
28
EMOBILE Positioning
*1 MIC. Sum of FTTH, DSL,CATV,FWA (fixed wireless access).*2 Telecom Carrier Association (TCA) announcement as of April 2008.*3 MIC (as of September 2007). *4 Approximately 300,000. Based on Nikkei Communication material.
28.3 million *1Broadband Service
6.7 million *3
Potential Users
103.0 million *2
Mobile Phone
Data card usersPublic Wireless LAN
Actual users *4
PHS
4.6 million *2
Data card users
Flat rate at reasonable priceNo installation
Anywhere Faster speed
Target users
Target new users in mobile broadband service, mobile phone, PHS and public wireless LAN
29
Mobile Data Comparison
3,880 yen+additional ISP charge
Over 50,000 yen(pay-as-you-go)
(for 1GB)
6,930 yen+additional ISP charge
Max 5,985 yen(until August 2008)Two-tiered flat rate
+additional ISP charge
1,000 yen ~ 4,980 yen(flat rate)
Monthly charge
PHS
Limited areas
EV-DO
Web and mail only
Incl. ISPFree ADSL (Data Plan)
Others
CompanyD
Charges are under two-year contract and include consumption tax
64 to 408kbps
3.6MbpsCompany C
Speed(downlink)
3.1MbpsCompanyB
7.2MbpsCompanyA
EMOBILE 7.2Mbps
3,880 yen+additional ISP charge
Over 50,000 yen(pay-as-you-go)
(for 1GB)
6,930 yen+additional ISP charge
Max 5,985 yen(until August 2008)Two-tiered flat rate
+additional ISP charge
1,000 yen ~ 4,980 yen(flat rate)
Monthly charge
PHS
Limited areas
EV-DO
Web and mail only
Incl. ISPFree ADSL (Data Plan)
Others
CompanyD
Charges are under two-year contract and include consumption tax
64 to 408kbps
3.6MbpsCompany C
Speed(downlink)
3.1MbpsCompanyB
7.2MbpsCompanyA
EMOBILE 7.2Mbps
EMOBILE continues to be the speed and Price and Speed leader in mobile data service.EMOBILE continues to be the speed and Price and Speed leader in mobile data service.
30
EMOBILE Product Lineup
19,980 yen
Maximum downlink speed 3.6Mbps 7.2Mbps 3.6Mbps
Terminal price(monthly assist payment plan)
4,980 yen9,980 yen
Monthly data charge
9,980 yen
Voice tariff
0 yen
1,000~4,980 yen*
3.6Mbps
EMONSTER(S11HT) H11T DATACARD
Monthly fee
980 yen
18.9 yen per 30 sec.
EMOBILE users :Free
Fixed lines and IP telephones:
5.25 yen / 30 sec.
Mobile phones and PHS:
9.45 yen / 30 sec.
Call rate
PC interface USB(Bluetooth2.0)
USB(infrared rays / Bluetooth1.2)
PCMCIACF・USB PCMCIA・CF
* 2-Year Contract
1,000 yen / month (2yr) 1,000 yen / month (2yr)
31
Promotion and Marketing
32
III.III. Business StrategyBusiness Strategy
ⅠⅠ..FY3/2008 Full Year Financial Results OverviewFY3/2008 Full Year Financial Results Overview
‐‐Network BusinessBusiness
‐EMOBILE
ⅡⅡ..FY3/2008 Full Year Financial Results and FY3/20099 OutlookFY3/2008 Full Year Financial Results and FY3/20099 Outlook
- Device Business
Page 3Page 3
Page 16Page 16
Page 22Page 22
Page 17Page 17
Page 6Page 6
Page 24Page 24
IV.IV. AppendixAppendix Page 32Page 32
33
Introduction ofIntroduction ofCandidates for Representative DirectorsCandidates for Representative Directors
34
Candidates for Candidates for eAccesseAccess Representative DirectorsRepresentative Directors
Representative Director & President Representative Director & President Koji Koji FukataFukataMr. Koji FukataMr. Koji Fukata(Representative Director & President)(Representative Director & President)
EDUCATIONEDUCATION1985 Graduated from Kyushu Univ.
(Engineering)
BUSINESS BACKGROUNDBUSINESS BACKGROUND1985 Joined KDD (now KDDI)2000 Joined eAccess2002 SVP, Engineering2006 SVP, ADSL Business Unit., Engineering 2007 EVP of eAccess
President of Open Wireless Network
Mr. Hideo KobayashiMr. Hideo Kobayashi(Representative Director & EVP)(Representative Director & EVP)
EDUCATIONEDUCATION1987 Graduated from Keio Univ.
(Economics)2000 Graduated from Graduate School of
Business Administration, Keio Univ.
BUSINESS BACKGROUNDBUSINESS BACKGROUND1987 Joined IBM Japan 2000 Joined eAccess2001 SVP, Organizational Management2003 SVP, Corporate Planning2004 SVP, AOL Business Unit2005 SVP, Corporate Strategy, EMOBILE2006 SVP, Information System, EMOBILE2007 Managing Director, Information
System, EMOBILE
35
Representative Director President
Koji Fukata
Representative Director Representative Director PresidentPresident
Koji FukataKoji FukataDirector
ChairmanSachio Semmoto
DirectorDirectorChairmanChairman
Sachio SemmotoSachio SemmotoDirector
Eric Gan
DirectorDirector
Eric Gan Eric Gan
Outside DirectorPaul ReynoldsOutside DirectorOutside Director
Paul ReynoldsPaul ReynoldsChief Executive
Telecom New ZealandChief Executive
Telecom New Zealand
Outside DirectorKen Shibusawa
Outside DirectorOutside Director
Ken ShibusawaKen ShibusawaPresident
Shibusawa & CompanyPresident
Shibusawa & Company
Outside DirectorJiro KokuryoOutside DirectorOutside Director
Jiro KokuryoJiro KokuryoProfessor
Policy ManagementKeio University
ProfessorPolicy Management
Keio University
eAccess Board Structure eAccess Board Structure (as of June 25, 2008)(as of June 25, 2008)
Outside DirectorKenzo TakaiOutside DirectorOutside Director
Kenzo TakaiKenzo TakaiPresident
IT FrontierPresident
IT FrontierAttorney-at-Law
Takai Law OfficesAttorney-at-Law
Takai Law Offices
Outside DirectorJunji Inoue
Outside DirectorOutside Director
Junji InoueJunji Inoue
Representative DirectorEVP
Hideo Kobayashi
Representative DirectorRepresentative DirectorEVPEVP
Hideo KobayashiHideo Kobayashi
*Appointments are subject to the approval of the shareholders meeting and the board of directors meeting to be held on June 25, 2008.
Auditor
Koichiro Nakamoto
AuditorAuditor
Koichiro NakamotoKoichiro NakamotoAuditor
Yoshinobu Tanaka
AuditorAuditor
Yoshinobu TanakaYoshinobu TanakaAuditor
Yukio Goto
AuditorAuditor
Yukio GotoYukio GotoAuditor
Motokuni Takaoka
AuditorAuditor
Motokuni TakaokaMotokuni Takaoka
36
Representative Director Chairman & CEO
Sachio Semmoto
Representative Director Representative Director Chairman & CEOChairman & CEO
Sachio SemmotoSachio Semmoto
Representative Director President & COO
Eric Gan
Representative Director Representative Director President & COOPresident & COO
Eric GanEric Gan
Outside DirectorToyoo Gyohten
Outside DirectorOutside Director
Toyoo GyohtenToyoo GyohtenOutside Director
Taketo FuruhataOutside DirectorOutside Director
Taketo FuruhataTaketo FuruhataPresident
Institute for International Monetary Affairs
President Institute for International
Monetary AffairsFormer President of IDCFormer EVP of Itochu
Former President of IDCFormer EVP of Itochu
Outside DirectorPeter F. Cowhey
Outside DirectorOutside Director
Peter F. CowheyPeter F. CowheyDean, International Relations
& Pacific StudiesUniv. of California,San Diego
Dean, International Relations & Pacific Studies
Univ. of California,San Diego
Outside DirectorLucas Chow
Outside DirectorOutside DirectorLucasLucas CChowhowCEO of MediaCorp
Former CEO, Singapore Telecom Mobile
CEO of MediaCorpFormer CEO, Singapore
Telecom Mobile
Outside DirectorYuko KawamotoOutside DirectorOutside Director
Yuko KawamotoYuko KawamotoProfessor, Graduate School of Finance, Accounting and Law
Waseda Univ.
Professor, Graduate School of Finance, Accounting and Law
Waseda Univ.
Outside DirectorAnkur Sahu
Outside DirectorOutside Director
Ankur SahuAnkur SahuManaging Director
Principal Investment AreasGoldman Sachs (Japan)
Managing Director Principal Investment Areas
Goldman Sachs (Japan)Chairman & CEO
Red HerringChairman & CEO
Red Herring
Outside DirectorAlex Vieux
Outside DirectorOutside Director
Alex VieuxAlex Vieux
EMOBILE Board Structure (as of June 26, 2008)(as of June 26, 2008)
AuditorFujino Tadahiko
AuditorAuditor
Fujino TadahikoFujino Tadahiko
*Appointments are subject to the approval of the shareholders meeting and the board of directors meeting to be held on June 26, 2008.
AuditorYukio Goto
AuditorAuditor
Yukio GotoYukio GotoAuditor
Yasuo AkimotoAuditorAuditor
Yasuo AkimotoYasuo Akimoto
37
RevenueRevenue
Net IncomeNet Income
EBITDAEBITDA
CapexCapex
DepreciationDepreciation
DeviceEM etc.
equity acc.(6/2007~)
Consolidated(billion yen)
FY3/2008 Results (Segment Info.)FY3/2008 Results (Segment Info.)
Operating ProfitOperating Profit
Recurring ProfitRecurring Profit
FY3/2008(4/2007-3/2008)
Network*
* Network Business: ADSL Business, ISP Business, Backbone Business, MVNO Business
Mobile(4-5/2007)
Operating FCFOperating FCF
13.05
-0.06
-0.05
0.25
0.01
-13.51
54.21
12.34
10.59
19.63
5.53
7.29
1.51
-4.24
-4.50
-2.00
-3.30
8.31
0.94
-0.3014.00 -11.61
8.45
FCF (after tax)FCF (after tax) na9.87
67.56
7.09
-8.37
-6.35
15.38
14.25
8.28
1.13
na
38
This presentation has been prepared by eAccess Ltd. (“the Company”). This presentation contains forward-looking statements, which are subject to risks, uncertainties, and assumptions. This presentation is being presented solely for your information and is subject to change without notice. No representation or warranty, expressed or implied, is made and no reliance should be placed on the accuracy, actuality, fairness, or completeness of the information presented. The Company accept no liability whatsoever for any losses arising from any information contained in the presentation.
This presentation does not constitute an offer or invitation to purchase or subscribe for any shares of the Company, and no part of this presentation shall form the basis of or be relied upon in connection with any contract or commitment.
DisclaimerDisclaimer