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Tokyo-based SoftBank Group Corp. reported Tuesday a fiscal
second quarter profit of nearly 1.18 trillion yen ($7.7
billion), compared with a 931 billion yen loss in the
year-earlier period.
Quarterly sales edged up about 6% to nearly 1.77 trillion yen
($11.5 billion).
SoftBank credited income from royalties and licensing related to
its holdings in Arm, a computer chip-designing company, whose
business spans smartphones, data centers, networking equipment,
automotive, consumer electronic devices, and AI applications.
The results were also helped by the absence of losses related to
SoftBank's investment in office-space sharing venture WeWork,
which hit the previous fiscal year.
WeWork, which filed for Chapter 11 bankruptcy protection in
2023, emerged from Chapter 11 in June.
SoftBank has benefitted in recent months from rising share
prices in some investment, such as U.S.-based e-commerce company
Coupang, Chinese mobility provider DiDi Global and Bytedance,
the Chinese developer of TikTok.
SoftBank’s financial results tend to swing wildly, partly
because of its sprawling investment portfolio that includes
search engine Yahoo, Chinese retailer Alibaba, and artificial
intelligence company Nvidia.
SoftBank makes investments in a variety of companies that it
groups together in a series of Vision Funds.
The company’s founder, Masayoshi Son, is a pioneer in technology
investment in Japan. SoftBank Group does not give earnings
forecasts.
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