ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Companies

SoftBank's magic lamp keeps sending the Alibaba genie

Stake in Chinese tech giant won't stop generating cash

SoftBank Group continues to collect on the bet that Masayoshi Son, right, placed with Jack Ma in 2000.

TOKYO -- Like the genie in Disney's "Aladdin" movies, Alibaba Group Holding grants SoftBank Group's wishes.

SoftBank expects to chalk up consolidated pretax profit of 1.2 trillion yen ($11.1 billion) for the April-June period on proceeds from sales of Alibaba shares and on financial derivative gains. The figure represents about 70% of the pretax profit for the fiscal year through March, which came to about 1.7 trillion yen.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more