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Investment powerhouse SoftBank rakes in record $11bn profit

Saudi-backed Vision Fund is already the group's second-largest pillar

SoftBank CEO Masayoshi Son is growing increasingly confident in his $100 billion Vision Fund.   © Reuters

TOKYO -- SoftBank Group's metamorphosis into an investment company is progressing rapidly, as earnings for the year ended in March were largely driven by its newly minted $100 billion war chest.

Consolidated operating profit rose 27% to a record 1.3 trillion yen ($11.8 billion) thanks to the SoftBank Vision Fund, which was launched last May. Formed with such partners as the Saudi Arabian government, the fund has invested in over 20 companies in the artificial intelligence, automation and "internet of things" fields.

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