AFP, Tokyo :
Japan’s SoftBank Group said Monday it logged an eight-fold jump in net profit in the six months to September thanks to strong returns from its investment funds.
Net profit rose to 840 billion yen ($7.4 billion) from 103 billion yen during the same period last year, the Japanese mobile giant and IT investor said.
The rise was largely driven by gains of 649 billion yen from the SoftBank Vision Fund, which compared to 194 billion yen in the previous period.
Under tycoon CEO Masayoshi Son, SoftBank, which started as a software firm, has increasingly been seen as an investment firm, ploughing funds into a broad range of companies and projects outside its core business.
Japan’s SoftBank Group said Monday it logged an eight-fold jump in net profit in the six months to September thanks to strong returns from its investment funds.
Net profit rose to 840 billion yen ($7.4 billion) from 103 billion yen during the same period last year, the Japanese mobile giant and IT investor said.
The rise was largely driven by gains of 649 billion yen from the SoftBank Vision Fund, which compared to 194 billion yen in the previous period.
Under tycoon CEO Masayoshi Son, SoftBank, which started as a software firm, has increasingly been seen as an investment firm, ploughing funds into a broad range of companies and projects outside its core business.
