Softbank Group's Net Profit More Than Triples in April-June

Economy

Tokyo, Aug. 7 (Jiji Press)--Softbank Group Corp. <9984> said Wednesday that its net profit more than tripled in April-June from a year before, mainly thanks to gains from sale of shares in Chinese e-commerce giant Alibaba Group Holding Ltd.

The Japanese technology investor posted a consolidated net profit of 1,121,719 million yen for the three months. The figure was the largest quarterly net profit reported by 400 major Japanese firms since 2004, according to Nomura Securities Co.

Speaking at a press conference, Softbank Group Chairman and Chief Executive Officer Masayoshi Son said that a quarterly net profit of over one trillion yen is his first experience. This is "a milestone achievement," he said.

Softbank booked some 1.2 trillion yen in profit from the share sale. In the same period a year before, the company posted a net profit of 313,687 million yen.

Sales increased 2.8 pct from a year before to 2,336,397 million yen. Operating profit dropped 3.7 pct to 688,816 million yen, more than half of which came from the Softbank Vision Fund.

[Copyright The Jiji Press, Ltd.]

Jiji Press