Softbank Group's Operating Profit Hits Record 2.3 T. Yen

Economy

Tokyo, May 9 (Jiji Press)--Softbank Group Corp. <9984> announced Thursday that its consolidated operating profit for the year through last March jumped 80.5 pct from the previous year to 2,353,931 million yen, hitting a record high.

The result reflected growth in appraisal gains on investments by the 10-trillion-yen investment fund the Japanese company set up with the Saudi Arabian government and others. The fund's operating profit accounted for over 50 pct of the group's total.

Softbank Group's operating profit, which is based on international accounting standards, compared with leading automaker Toyota Motor Corp.'s <7203> profit of 2,467,545 million yen under U.S. accounting standards, which was Japan's largest profit posted for the latest fiscal year.

Softbank Group's sales also hit a record high at 9,602,236 million yen, up 4.8 pct. Its net profit swelled 35.8 pct to 1,411,199 million yen.

[Copyright The Jiji Press, Ltd.]

Jiji Press