SoftBank Group April-Sept. net profit plunges over 80%

Economy

SoftBank Group Corp. on Monday reported an 80.7 percent drop in net profit to 363.57 billion yen ($3.2 billion) in the fiscal first half through September, weighed down by losses related to its investments business. The profit nosedive came after SoftBank logged a record net profit of 1.88 trillion yen a year earlier, buoyed by a massive divestiture, including part of its stake in T-Mobile U.S. Inc., to bolster its finances. Revenue for the April-September period rose 13.4 percent to 2.98 trillion yen, according to SoftBank, which has focused on investing in promising start-ups. SoftBank did n...

Kyodo News

Kyodo News