BUSINESS SoftBank Group posts $45.8 bn net profit, Japan's highest ever

BUSINESS

SoftBank Group posts $45.8 bn net profit, Japan's highest ever

AFP

14:18, May 12, 2021

People walk by a SoftBank shop in Tokyo, Monday, Feb. 8, 2021. (Photo:AP)

Investment giant Softbank Group on Wednesday reported annual net profit of $45.8 billion, the best ever for a Japanese company, reaping the rewards of tech share rallies to recover from last year's record loss.

The telecoms firm turned investment behemoth has poured money into some of Silicon Valley's biggest names and hottest new ventures, from AI to biotech, through its $100-billion Vision Fund.

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