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Vision Fund investments boost SoftBank profit

Japanese telecoms provider and tech investor hits record profit in Q1

SoftBank Group founder and CEO Masayoshi Son speaks at a press briefing in Tokyo on Aug. 6. (Photo by Kei Higuchi)

Japan's SoftBank Group hit record high operating profit of 714.9 billion yen ($6.4 billion) in the first quarter from April to June, thanks to contributions from its $100 billion Vision Fund which invests in technology startups, the company said on Monday.

SoftBank's revenue in the first quarter came in at 2.27 trillion yen, a rise of just 4% from the previous year. However, operating profit at the SoftBank Vision Fund and other funds reached 239.9 billion yen, up by 128% from the first quarter of 2017, indicating their massive contribution to the group overall.

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