Japanese tech giant SoftBank records its first profit in 4 years
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Hey there, time traveller!
This article was published 13/05/2025 (210 days ago), so information in it may no longer be current.
TOKYO (AP) — Japanese technology company SoftBank Group posted its first profit in four years Tuesday, as it raked in gains from its investment portfolios.
SoftBank warned of major uncertainties ahead because of President Donald Trump’s tariff policies, tensions between the U.S. and China, and other global conflicts.
Tokyo-based Softbank’s profit for the fiscal year through March totaled 1.15 trillion yen ($7.8 billion), a reversal from the 227.6 billion yen loss it racked up the previous year.
Annual sales climbed 7% to 7.2 trillion yen ($49 billion).
SoftBank has a wide-ranging partnership with OpenAI, the U.S. artificial intelligence research organization behind ChatGPT. It said it remains focused on promoting technology related to artificial intelligence.
The company said it will continue to aggressively invest in new AI companies like Glean and Helion, both U.S. companies.
SoftBank also recently decided to acquire the total equity of Ampere, a U.S. cloud-and AI-focused semiconductor design company, for $6.5 billion. It expects to complete the transaction in the second half of this year.
Its investments include stakes in Chinese e-commerce giant Alibaba and T-Mobile, a European mobile communications outfit. Both gained value over the latest period.
Also helping its bottom line were strong results and royalties at Arm, a British semiconductor and software design company in which SoftBank is a major investor.
The company also logged gains from its SoftBank Vision Funds.
SoftBank invests in various companies, including ByteDance, the Chinese multinational that’s behind TikTok, and PayPay, a popular Japanese mobile payment application.
SoftBank said it was planning an IPO for PayPay. Launched in 2018, PayPay is now used by more than 68 million people, according to SoftBank. Japan’s population is about 125 million.
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Yuri Kageyama is on Threads: https://www.threads.com/@yurikageyama