May 27, 2022

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The Canadian Press

Japan’s Softbank is back in the black as investments improve

TOKYO – Japan technology company Softbank Group Corporation on Monday revived its profitability in the last quarter as its investment value improved. The Tokyo-based company reported a profit of 627 billion yen or $ 6.1 billion in July-September. 700 billion yen loss in the same quarter of 2019. Softbank’s quarterly sales rose nearly 5% to 1.35 trillion yen, or $ 13 billion, from 1.29 trillion yen. SoftBank’s Vision Fund has also recently become profitable. It sold a stake in Chinese e-commerce company Alibaba to raise cash for further investment. Merged with T-Mobile in April, that means Sprint is no longer part of the Softbank group or revenue. The company’s chief executive, Masayoshi Sun, described the hardships ranging from the coronavirus epidemic to the Great Depression. Some startups are in Softbank Banking which is better than others. Office-sharing firm WeWork cut revenue last year. In some markets, such as Japan, Softbank still has high hopes for Weaver’s potential, with interest in the epidemic as well. Japan and Pepper Companion robot, and its SoftBank in Japan, introduced the iPhone for the first time in Japan, in a mobile carrier .___Yuri Kageyama on Twitter

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