TOKYO -- SoftBank Group saw its net profit plunge sharply for the April-September half despite posting a record operating profit, exposing a heavy toll exacted by enormous interest payments and intricate derivatives arrangements.
Growth at U.S. telecom unit Sprint, until recently in talks to merge with rival T-Mobile US, helped push operating profit up 35% to 874 billion yen ($7.75 billion). But debt associated with that subsidiary, bought in 2013, also figured into the Japanese parent's over 15 trillion yen in interest-bearing liabilities as of the end of September. Interest payments sent net profit plunging 87% on the year to 102 billion yen.
