Friday , July 30 2021

SoftBank profits rose, a payroll party from the Saudi-linked fund

TOKYO – The Japanese Internet company SoftBank announced a 36% increase in profits for the fiscal year to March of the previous fiscal year, partly on gains from its Vision Fund.

Following the murder of Saudi journalist Jamal Kashoggi, SoftBank said it would diversify its source of funding for investments. Much of the money from the Vision Fund came from Saudi Arabia.

SoftBank Group Corp., whose mobile subsidiary increases its stake in Yahoo Japan to 45 percent from 12 percent, announced on Thursday that the annual profit was 1.4 billion yen ($ 12.8 billion).

SoftBank Group, which invested in British IoT company ARM and US wireless company Sprint, offers internet and solar electrical services and has developed Pepper, a talker that talks about socializing.

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