SoftBank Group sees higher third-quarter profit

SectorFinancial Markets
CountryMiddle east

UAE - Mubasher: SoftBank's net profits attributable to the owners hiked to 1.171 billion yen during the third quarter ended on 31 December 2020, compared to 55.035 million yen in the same period of the previous year. In the nine months ended on 31 December 2020, the net profits attributable to the owners of SoftBank Group Corp surged to 3.055 billion yen from 476.587 million yen in the year-ago period. The Japanese conglomerate's net sales increased to 4.138 billion yen in the nine months ended on 31 December 2020, according to the group's consolidated financial results for the nine-month period ended 31 December 2020.  The group has gained 846.5 billion yen from investments at Investment Business of Holding Companies, in connection with the merger of Sprint and T-Mobile US and the subsequent partial sale of T-Mobile shares. Meanwhile, the company recorded 421.8 billion yen gains related to the sales of T-Mobile shares and 2.728 trillion yen on investments at SVF1 and SVF2. more...