Japanese technology investor SoftBank Group Corp. reported on Friday a ¥3-trillion ($21 billion) profit for the July-September quarter, a sharp reversal from its loss a year ago. Know more:
TOKYO — Japanese technology investor SoftBank Group Corp. reported on Friday a ¥3-trillion profit for the July-September quarter, a sharp reversal from its loss a year ago.
Tokyo-based SoftBank Group tends to have fluctuating and complex financial results because it invests in an array of companies, and their stock prices have shifted lately, depending on various global factors. SoftBank invests in hundreds of companies, including mobile carrier SoftBank, web services provider Yahoo and vehicle-for-hire company Didi.While its holdings in Alibaba worked as a plus for its bottom line, its Vision Fund investments hurt, according to SoftBank.
Uncertainties remain, including soaring material costs and higher interest rates in the US, said Chief Financial Officer Yoshimitsu Goto. The weakening yen against the US dollar worked as a plus overall for SoftBank, at least on the books, he said.
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