Welcome. Let me share with you financial results of the third quarter of the fiscal year ending in March 2024. First of all, to the victims of the 2024 Noto Peninsula earthquakes and their families, we offer our heartfelt support. KDDI have been working with related parties to quickly restore telecommunication services and support. From the left, for early restoration and securing communication of base stations, we have been providing 200 units for portable existing base stations utilizing Starlink. In addition, we provided 550 units of Starlink to evacuation centers and disaster response agencies. There has been MNO cooperation with NTT DOCOMO, mutual utilization in base stations on ships with SoftBank, mutual utilization in oil refueling bases have been carried out. Moving to the right. At evacuation centers, we are providing wireless LAN and charging facilities to help evacuees feel safer. We continue our activities for full restoration.
Let me focus on the third quarter business results. First, on consolidated financial results. In the third quarter of the fiscal year ending in March 2024, cumulative results enjoyed increased revenues and income. The left shows operating revenues, which were JPY 4 trillion, 265.5 billion, up 2.0% year-on-year. The progress ratio was 78.5%. The right is operating income, which was JPY 847.9 billion, up 0.4% year-on-year. Progress ratio was 78.5%, we'll continue to aim for full year forecasts. On factors for change in the consolidated operating income. Steady growth in focus areas overcame a decrease in Rakuten roaming revenue. From the left, Group MVNO revenue and Rakuten roaming revenue were minus JPY 31 billion. Multi-brand communications ARPU revenues were minus JPY 70 million. DX was JPY +11.3 billion. For financial business, there was a temporary accounting impact in FY 2023, which was minus JPY 18.2 billion.
Excluding that, the result was JPY +12.2 billion. Energy business was JPY +12.2 billion. As a result, operating income was JPY 847.9 billion, up JPY 3.2 billion year-on-year. Concerns multi-brand ARPU revenues. The left shows the cumulative communications ARPU revenues from the first through the third quarter in FY March 2024 were flat year-on-year. Higher revenues expected in the fourth quarter. The right shows total ARPU revenues, which are on the upward trend quarterly. On the Business segment. The left shows operating revenues, which were driven by NEXT Core with + 30.4% year-on-year. Moving to the right, operating income, where growth was led by IoT and data centers. Mobile communications revenue also increased. Third quarter year-on-year result was 11.4%. First through the third quarter cumulative results was 7.7% growth. We are steadily expanding the income increase and continue to aim for a full year double-digit growth.
Let me share with you our Satellite Growth Strategy towards a further growth orbit. First, on 5G communications. We'll focus on sustainable ARPU revenue growth and network quality improvement. This is 5G communications growth strategy. Promote initiatives in both communications and value-added services, aim at maximizing total ARPU revenues and lifetime values. Please look at the left. Regarding communications ARPU revenues, with attractiveness of au, promotion of data usage, and building high quality network, we will further grow the revenues. Moving to the right, KDDI has a track record and strength in providing value-added services such as finance, energy, and entertainment. We will further expand these services. Please look at the bottom. In addition to promoting these efforts and trying to enhance customer engagement, we will utilize data-driven generative AI and partnering to expand customer contact points. This shows communications business momentum.
The left shows multi-brand IDs, which have been moving favorably at JPY 31.06 million. Initial target of JPY 31 million by the end of the term has been achieved ahead of schedule. We see an increase in new contracts, especially for UQ mobile and au to UQ mobile migration slowed. We are strengthening our initiatives to continue to be chosen by customers, including attractiveness of au and higher network quality. Next on multi-brand ARPU. It maintains upward trend in both communications and value-added ARPU. The left shows communications ARPU, which was JPY 3,990, up JPY 30 quarter-on-quarter. With an increase of data use, ARPU of au and UQ mobile grew. In au, over 80% select unlimited usage plan. In UQ mobile, over 70% select medium and large plans. The right shows value-added ARPU, which was JPY 1,270, up JPY 20 quarter-on-quarter.
Product support related needs increased, while increases in credit cards and mortgage loans are driving growth.
To raise the attractiveness of au, we are expanding bundled service of telecommunication plus value-added that meet customers' needs. As shown on the left, customers' needs are changing in line with the changes in service use environment. Demand for data is growing with the development of 5G, and interest in asset building is also growing, partly due to the new NISA. On the right, we are maximizing the value provided by expanding our bundled services in response to those changes. The au Money Activity Plan, launched in September last year, has been well-received, and we are enjoying strong subscriber growth. Through these initiatives, we aim to increase ARPU and reduce the churn rate. Next is on our efforts to improve network quality. KDDI has long been deploying 5G areas along customers' lifeline to connect their daily lives.
As shown on the left, we are accelerating area expansion and plan to open approximately 90,000 base stations by the end of March. In addition, KDDI is working to enhance the quality of the customer experience by strengthening the 5G area and communication quality. Right side. Sub6 frequencies will be fully utilized in FY 2024, enabling high speed, large capacity, and low latency communications over a wider area. We are planning to deploy the largest number of Sub6 base stations in the industry this fiscal year and will refine our communication quality further. We are also promoting efforts to respond to diversification of use scenes by utilizing Starlink. Left side. We are creating areas where we stay close to customers' extraordinary scenes such as mountains, festivals, maritime and disasters. We are now planning to start handling Starlink in au shops to meet customers' needs for disaster measures. Right side.
Regarding direct communication between satellite and smartphone, SpaceX launched six satellites compatible with direct communication and succeeded in the communication test in January this year. Toward the start of service in 2024, we will promote verification with SpaceX and telecom carriers and government in each country. Next is DX. KDDI Business will expand customer contact points and promote partnering. To strengthen our corporate business in Japan and overseas, we launched a new corporate business brand as KDDI Business to accelerate our customers' DX promotion. Right side. KDDI's strength is the large number of domestic and overseas customer contact points, such as IoT, mobile, and data centers, and the operational system we have cultivated over the years. We will promote value-added data business by combining the vast amount of data obtained from those customer contact points with abundant group assets and AI and data infrastructure.
We will also strengthen partnering to create industry-specific DX solutions. KDDI Business will contribute to customers' DX promotion and the resolution of social issues. IoT and data centers, which serve as customers' contact points to support the data business, are expanding globally. Left side. The number of IoT connections exceeded 45.5 million combined with Soracom. KDDI, on a standalone basis, exceeded 39.5 million, achieving its initial target ahead of schedule. Growth in connected cars has been particularly strong. The entire group will continue to aim for further expansion. Right side. Connectivity data center revenue is growing at 21.7% year-over-year, thanks to increased demand. We opened new facilities in Frankfurt and Paris in 2023 and are receiving many inquiries. We will continue to invest aggressively, particularly in Europe, North America, and Asia. Next is our initiatives with our partners to promote DX.
Left side, we established a new company, Nexa Ware, with Tsubakimoto Chain to promote DX in the logistics industry. By combining the strength of the two companies, Nexa Ware aims to realize warehouse automation and data-driven optimization to solve problems faced by the logistics industry. Right side, Japan Airlines and KDDI SmartDrone formed a capital and business alliance for the social implementation of drones. The partnership aims for safe and secure flight management and expansion of usage by utilizing JAL's air transport business technology and KDDI SmartDrone's flight management system and communication infrastructure. Next is finance and energy business. We aim to further expand our customer base through synergy with telecommunications. Financial business is progressing steadily. Left side, au Financial Holdings operating income grew strongly by 87.7% year-over-year, excluding the impact of accounting treatment changes in the year ending March 2023.
As shown in the middle, settlement and loan transaction volume also grew steadily by 23.3% year-over-year. Right side, our financial customer base, such as credit cards and banking, is also growing steadily. Next is focused services, namely credit card and bank businesses. Left side, au PAY Gold Card grew strongly, reaching 1.07 million members, which is up by 48.6% year-over-year. Growth is accelerating through synergy with telecom. As shown in the middle, au PAY card subscription rate for au Money Activity Plan is 4.4 times that of other rate plans, of which Gold Card selection rate is approximately 3.5 times. Right side, mortgage loan balance grew strongly to reach JPY 2.6 trillion, up by 60.6% year-over-year. Next is energy related initiatives.
In addition to expanding the number of contracts, we will promote initiatives for carbon neutrality. Left side, au Denki is working to stabilize its business by reviewing the procurement and sales method. We aim to achieve sustainable business growth by increasing the number of contracts going forward. Right side, we are promoting the use of renewable energy generation for base stations. Upper row, au Renewable Energy started operating solar power plant in December 2023. The electricity generated is supplied to au base stations. Bottom row, we started a demonstration trial to generate electricity by wrapping bendable perovskite solar cell around the base stations. Initiatives toward further growth. MWC, Mobile World Congress Barcelona, is fast approaching later this month. KDDI will exhibit for the first time this year under the theme Life Transformation, e nhancing the power to connect.
Left side, at MWC, KDDI will introduce DX and LX initiatives for the future, including mobility, space, and metaverse. Right side, KDDI is aiming for the next stage of growth and evolving the LX area to realize the future society of consumption diversification, mobility society, and new technology utilization. We will discuss these strategies in more detail in our next full year financial results briefing. Today's summary. Consolidated results for the first nine months show an increase in both revenue and income. We will continue to aim to achieve our full year forecasts. Steady growth in focus areas overcame the decrease in Rakuten roaming revenue. We will promote each initiative of the Satellite Growth Strategy toward a further growth orbit. In 5G communications, KDDI will promote initiatives for sustainable ARPU revenue growth and network quality improvement.
In corporate business, we will promote KDDI Business and accelerate customers' DX promotion based on our strength in telecom. In finance and energy business, we will further expand our customer base by synergy with telecommunications and will further evolve LX area for sustainable growth and realization of future society. This concludes my explanation. Thank you very much for your kind attention.