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Japan's Softbank Back in The Black As Investments Improve
AppleMagazine
|November 13, 2020
Japanese technology company SoftBank Group Corp. said it bounced back to profitability in the last quarter as its investments improved in value.
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The Tokyo-based company reported a 627 billion yen, or about $6.1 billion, profit in July-September, compared with a loss of 700 billion yen in the same quarter of 2019.
SoftBank said its quarterly sales rose nearly 5% to 1.35 trillion yen, or $13 billion, from 1.29 trillion yen.
SoftBank’s Vision Fund also has become profitable recently.
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