Softbank Group Posts Record April-Dec. Operating Profit
Tokyo, Feb. 6 (Jiji Press)--Softbank Group Corp. <9984> on Wednesday posted a record consolidated operating profit for the nine months ended in December, backed by appraisal gains on its 10-trillion-yen investment fund.
The company relies on the Softbank Vision Fund, established mainly with the Saudi Arabian government in May 2017, for over 40 pct of its operating profit.
"SVF will be the most important business" for the company, Chairman and Chief Executive Officer Masayoshi Son told a press conference.
The company plans to set aside 700 billion yen for future investments out of the some 2 trillion yen it obtained through the initial public offering of its mobile arm, Softbank Corp. <9434>, last December.
Operating profit surged 61.8 pct from a year before to 1,859,007 million yen. Net profit jumped 51.6 pct to 1,538,396 million yen.
[Copyright The Jiji Press, Ltd.]