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Japan's SoftBank returns to profit on global stock boom

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TOKYO – Japanese technology conglomerate SoftBank Group Corp. returned to profitability for the fiscal year that ended in March, it said Wednesday, boosted by the strong performance of its sprawling investments as stock prices surged.

Tokyo-based SoftBank reported a 4.99 trillion yen ($36 billion) profit, a dramatic reversal from the 962 billion yen loss logged during the previous fiscal year.

It did not break down quarterly results. Sales for the fiscal year totaled 5.6 trillion yen ($51 billion), up 7%. Sales of SoftBank's assets helped boost its bottom line by 5.6 trillion yen ($51 billion) from April to September 2020.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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