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

SoftBank posts $11.8bn net profit in first quarter

Sale of T-Mobile stake helps Japanese conglomerate rebound from record loss

A turnround in valuations at SoftBank is a relief for Masayoshi Son, founder and chairman. (Screenshot from SoftBank website) 

TOKYO -- SoftBank Group on Tuesday reported a net profit of 1.25 trillion yen ($11.8 billion) in the April-June quarter thanks to the merger and sale of its stake in U.S. mobile carrier Sprint and a recovery in its $100 billion Vision Fund, marking a return to profit after its worst ever loss in the previous quarter.

The turnround in valuations and completion of the long-sought Sprint deal have been a balm for Masayoshi Son, SoftBank founder and chairman, who only months ago plunged the group into a series of asset sales to try to quell investor concern over its deteriorating balance sheet.

Sponsored Content

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

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

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