Japanese conglomerate Hitachi, Ltd. (HTHIF.PK) reported Wednesday that its third-quarter net income attributable to stockholders grew to 235.9 billion Japanese yen from last year's 119.
TOKYO (Reuters) -SoftBank Group Corp said it would receive shares in telco T-Mobile US worth some $7.59 billion at no additional cost, driving the Japanese conglomerate's shares up 5%. Masayoshi Son's conglomerate said late on Tuesday it had told T-Mobile US to issue 48.75 million shares in common stock to it after conditions set out in an agreement made as part of the merger of SoftBank's U.S. telco Sprint and T-Mobile were met. The transaction bolsters the listed assets in SoftBank's portfolio, doubling its T-Mobile US stake to 7.64% from 3.75% currently, following the blockbuster listing of chip designer Arm in September.
Japanese conglomerate Toshiba Corp., which is going private, on Tuesday reported a loss in its second quarter, compared to prior year's profit, while operating profit climbed from last year.
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