Japan's SoftBank Group returned to profit for the first time in five quarters on Thursday, as the Japanese tech investment firm was buoyed by an ..
TOKYO: Japan's SoftBank Group returned to profit for the first time in five quarters on Thursday (Feb 8), as the Japanese tech investment firm was buoyed by an upturn in portfolio companies, sparking hope it was emerging from a period of retrenchment. Net profit totalled 985.5 billion yen (US$6.6 billion)
By Kosaku Narioka SoftBank Group shares fell sharply after the Japanese technology and investment company posted a second-quarter net loss due to weak tech.
Japanese technology company SoftBank Group Corp continued to rack up losses for the fiscal first quarter as technology investments soured amid a market downturn. But SoftBank’s April-June red ink, at ¥477.6 billion (US$3.4 billion), was smaller.