Japan SoftBank rebounds overcoming investment failure concerns... Records 32 trillion won net profit

Net Income for Consolidated Financial Statements from April to December
Reaches 32.4 Trillion Won
Largest Ever Recorded

[Image source=Yonhap News]

[Asia Economy Reporter Minyoung Cha] SoftBank Group of Japan, led by Chairman Masayoshi Son (photo), posted record-high earnings over the past nine months, fueled by the strong performance of its 'Vision Fund' investments. Despite technology stocks plummeting earlier last year, gains from the sale of T-Mobile and the value of holdings in Amazon and DoorDash proved effective.

On the 8th, SoftBank Group announced that its consolidated net profit for the period from April to December last year (based on international accounting standards) reached 3.0551 trillion yen (approximately 32.4 trillion KRW), 6.4 times that of the same period the previous year. This is the largest amount ever recorded for the April to December period.

The overall increase in net profit was mainly driven by the strong operating performance of the first investment fund, the 'Vision Fund.' Investment gains in the entire fund business segment rose to 3.7994 trillion yen, more than six times the 131.7 billion yen recorded in the same period last year. This offset derivative investment losses incurred by the investment subsidiary SB Northstar during technology stock investments.

Included in this were profits generated from the sale of shares in the U.S. mobile carrier T-Mobile. By industry, the rise in investment value was particularly notable in logistics and consumer services. The value of Amazon shares held surged last year, and the U.S. food delivery startup DoorDash also contributed investment gains by successfully going public (IPO).

Since the establishment of the first fund, cumulative investment gains as of December last year reached $20.4 billion (approximately 23 trillion KRW), a significant increase compared to $7.4 billion three months earlier. The second fund posted a net profit of 1.1179 trillion yen in October to December last year, 21 times that of the same period the previous year.

This content was produced with the assistance of AI translation services.