Vodafone Holdings K.K. on Tuesday reported a net loss of 100 billion yen for the year that ended March 31, due mainly to losses stemming from the sale of its fixed-line unit.
On the same day, its British parent, Vodafone Group PLC, announced it will spend 513 billion yen to buy out all outstanding shares of the Japanese unit from its minority stakeholders.
Vodafone blamed its descent into the red in fiscal 2003, following a 79.5 billion yen profit a year earlier, on the sale of Japan Telecom Co. to Ripplewood Holdings LLC in November.
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