Japanese technology company SoftBank
Group Corp. reported Wednesday its fiscal
first quarter profit nearly quadrupled to 1.122
trillion yen ($10.6 billion) as its fund investments
boosted income.
Tokyo-based SoftBank’s April-June profit the
previous year had totaled 313.7 billion yen.
Quarterly sales climbed nearly 3% to 2.226
trillion yen ($21 billion).
The SoftBank Vision Fund has invested in
dozens of companies including American
entrepreneurships such as work messaging service
Slack, ride-hailing Uber, office-sharing company
WeWork and delivery business Doordash.
Dragging on earnings was U.S. mobile operator
Sprint. But SoftBank said Sprint will merge with
T-Mobile and will no longer be its subsidiary. The
U.S. Department of Justice approved the merger
with conditions last month.