URGENT: SoftBank Group logs record-high net profit for Japan firm in FY 2020

Economy

SoftBank Group Corp. said Wednesday its net profit in the business year ended March surged to 4.99 trillion yen ($46 billion), the highest level on record for a Japanese company, thanks to its successful investments in tech firms around the world. SoftBank Group broke the previous record of 2.49 trillion yen in net profit logged by Toyota Motor Corp in fiscal 2017, according to data provided by Nomura Securities Co. The Japanese investment giant made a dramatic turnaround from a record net loss of 961.58 billion yen in fiscal 2019 as a result of its failed investment in We Co., operator of U.S...

Kyodo News

Kyodo News