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The
Tokyo-based company recorded an annual profit of 5 trillion yen
($32 billion), far greater than the 1.15 trillion yen profit
racked up the previous year.
Sales climbed nearly 8% on-year to nearly 7.8 trillion yen ($50
billion) from 7.2 trillion yen, the company said in a statement.
Among its most lucrative investments was OpenAI, in which
Softbank has invested $34.6 billion, recording gains of $45
billion.
SoftBank also invests in U.S. AI company Nvidia, German mobile
and internet provider Deutsche Telekom and British semiconductor
manufacturer Arm. It also is behind the humanoid robot Pepper.
SoftBank said it got an additional lift from the initial public
offering of PayPay, a popular mobile-payment application in
Japan, which allows users to make quick, cashless payments using
QR codes.
Gains from holdings in Intel Corp. offset the minus from those
in Chinese e-commerce giant Alibaba.
Such mixed picture results are typical for SoftBank, which began
early in investing in technology for a Japanese company and now
oversees a sprawling scope of businesses through what it calls
Vision Funds.
SoftBank was founded more than four decades ago by Masayoshi
Son, the company's chief executive and chairman, who is a
University of California graduate and now a billionaire widely
considered a pioneer in Japan's technology sector.
Softbank recently started a battery business in Japan to build
next-generation electric power infrastructure in anticipation of
growing electricity demand driven by AI use.
The company also is working with Toppan, a Japanese printing,
communications, security and packaging company, to develop
lightweight, durable “skin” material for aircraft wings that is
set to be used for commercial services in about three years.
SoftBank Group does not provide earnings forecasts.
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