SoftBank Group made a profit of almost $ 9.6 billion
The technology company of Japanese origin achieved, at the exchange rate in its local currency, about 1.12 billion yen between the months of April and June
SoftBank Group, the Japanese technology conglomerate led by Masayoshi Son, achieved an attributed net profit of 1.12 trillion yen between the months of April and June, corresponding to the first quarter of its fiscal year, thus multiplying by 3.5 times its earnings of 313,687 million yen from the same period last year thanks to the sale of shares of Alibaba, the Chinese e-commerce giant.
Specifically, the transaction with Alibaba shares reported a net capital gain of 856.8 billion yen to SoftBank.
On the other hand, the operating profit of SoftBank Group registered a 3.7% drop in the quarter, to 688,816 million yen as a consequence mainly of the absence of atypicals in the processors business, after that during the previous fiscal year the firm accounted for an extraordinary capital gain following the transformation of the Arm China business into an affiliate of a subsidiary as a result of the creation of a joint venture.
The Japanese group noted that its operating result of Vision Fund, the gigantic investment vehicle launched by SoftBank in 2016 in collaboration with the Public Investment Fund of Saudi Arabia (PIF) and in which technology companies such as Apple, Sharp or Foxconn Technology, reached 397.630 million yen, 65.7% more than a year earlier and more than half of the entity’s total.
In fact, SoftBank’s operating profit, regardless of Vision Fund’s contribution, registered a year-on-year fall of 38.7% in the first quarter of its fiscal year, to 291,186 million yen.
At the end of last July, SoftBank Group announced its intention to launch a new fund to invest in technology companies with the aim of promoting the development of Artificial Intelligence and with a capacity of around 108,000 million dollars and in which companies like Apple and Microsoft will participate.
K. Tovar
Source: dpa
