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SoftBank Soars After Striking Deal With Deutsche Telekom For Badly Needed Cash, Shares In Exchange For T-Mobile Stake

SoftBank Soars After Striking Deal With Deutsche Telekom For Badly Needed Cash, Shares In Exchange For T-Mobile Stake
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SoftBank beats Japanese record for annual net profit | Money

TOKYO, May 16 Investment giant Softbank Group on Wednesday reported the best ever annual net profit for a Japanese company, reaping the rewards of tech share rallies to recover from last year’s record loss. The telecoms firm turned investment behemoth has poured money into some of Silicon.

SoftBank reports Japanese record of $45 bn annual net profit

SoftBank reports Japanese record of $45 bn annual net profit Issued on: The impact of Covid-19 lockdowns has largely worked in SoftBank s favour Philip FONG AFP 3 min Tokyo (AFP) Investment giant Softbank Group on Wednesday reported an annual net profit of $45.8 billion, the best ever for a Japanese company, reaping the rewards of tech share rallies to recover from last year s record loss. The telecoms-firm-turned-investment-behemoth has poured money into some of Silicon Valley s biggest names and hottest new ventures from AI to biotech through its $100-billion Vision Fund. The technology sector, where the company focuses its investment strategies, has been positively impacted by the accelerated adoption of digital services to address the pandemic, SoftBank said in a statement.

SoftBank Rides Recovery on Vision Fund Performance

SoftBank Rides Recovery on Vision Fund Performance PUBLISHED BY SoftBank Group Corp’s net profit went up to $11.1 billion (¥1.17 trillion) in the third quarter on the back of stock rallies and asset sales, which has helped the conglomerate to make a dramatic recovery in fortunes. Net profit for October-December is more than 21 times higher than the ¥55 billion reported a year earlier, SoftBank said. It surpassed analysts’ forecasts of a net profit of ¥98.5bn. SoftBank’s Vision Fund recorded its best performance since its launch in 2017. The Japanese tech conglomerate’s two Vision Funds reported a $13 billion gain in the value of their investments during the three months to December, helped by the pandemic-induced boost in holdings of ride-hailing group

SoftBank net profit soars to $11 1b in third quarter | Daily Express Online

Published on: Tuesday, February 09, 2021 By: AFP A pedestrian walks past a shop of SoftBank Group along a street in Tokyo. TOKYO: SoftBank Group on Monday said net profit rocketed to $11.1 billion in the third quarter as stock rallies and asset sales helped it solidify its recovery. Net profit for October-December hit 1,171.9 billion yen, more than 21 times higher than the 55.0 billion yen reported a year earlier, the conglomerate said. Despite the results, it said it would not provide “forecasts of consolidated results of operations as they are difficult to project due to numerous uncertainties affecting earnings”. ADVERTISEMENT But the economic crisis that has accompanied the coronavirus pandemic has worked largely in SoftBank’s favour, with rallies in tech stocks it owns and rising valuations for firms in its portfolio suited to the era, including food delivery.

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