Japan's SoftBank Posts 9 Trillion Won Profit in First Half: "Investments Going Smoothly"

AFP Yonhap News

Japan's SoftBank Group posted a net profit exceeding 9 trillion won during the first half of this fiscal year (April to September). The company explained that this was due to increased investment gains through the Vision Fund and other channels.

According to foreign media including Nihon Keizai Shimbun and NHK on the 12th, SoftBank Group recorded a net profit of 1.053 trillion yen (approximately 9.1787 trillion won) in the first half of fiscal year 2024 (April to September). This marks the first time in three years since 2021 that SoftBank posted a profit in the first half. In the first half of last year, the company recorded a net loss of 1.4087 trillion yen.

SoftBank stated that the improvement in first-half results was due to increased investment gains through the Vision Fund and other investments. Yoshimitsu Goto, Chief Financial Officer (CFO), said, "Investments went smoothly," and added, "In September, we invested 500 million dollars (about 700 billion won) in OpenAI, the developer of ChatGPT, which is an excellent factor to strengthen our relationship with OpenAI."