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Companies

SoftBank profit grows 36% relying heavily on investment stakes

Vision Fund generates returns but debt and thin cash flow cast shadow

SoftBank Group Chairman and CEO Masayoshi Son has deployed the majority of the nearly $100 billion committed to the group's technology investment fund. (Photo by Ken Kobayashi)

TOKYO -- SoftBank Group on Thursday said its net profit rose 36% to 1.41 trillion yen ($12.9 billion) for the year ended March 31, driven largely by the Vision Fund, which reached 1 trillion yen in unrealized gains for the first time. Operating profit rose 80.5% to 2.35 trillion yen. 

CEO Masayoshi Son announced plans for a second Vision Fund, on par with the $100 billion investment fund backed by Saudi Arabia and Abu Dhabi, further accelerating the company's push into tech investment.

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