wordpress blog stats
Connect with us

Hi, what are you looking for?

SoftBank net income up by 39% in April-Dec 2017 YoY

SoftBank Group Corp, a multinational conglomerate based in Japan, has reported a net income of 1,362 billion yen (roughly US $12.7 billion) April-December 2017, over 39 per cent more than the income in the same period last year. This was in part due to deferred taxes on its telecom company Sprint. The company’s Earnings Before Interest and Tax (EBIT) in this period increased by 24 per cent to 1,148 billion yen or nearly $10.7 billion on account of cost reduction efforts for Sprint, and valuation gain in its Vision and Delta Funds. Recently, talks of merger between Sprint and US-based telecom company T-mobile fell through, which also led to fall in share prices. But SoftBank CEO Masayoshi Son, said while releasing the earnings report, that you may think Sprint is a troubled company, but they are making a steady turnaround. SoftBank has also unveiled plans for an initial public offering (IPO) of its domestic telecom operation. This listing of a company core to the Group's telecommunications business, will make possible to communicate information regarding the Group's businesses to the market with greater clarity and thereby better respond to the various needs of investors, it said. Apart from its domestic telecom operation, the conglomerate’s other businesses include chip maker ARM, Yahoo! Japan, Sprint, Alibaba, Fortress Investment Group. SoftBank has also funded various companies around the world through its Vision Fund. SoftBank’s Investments In the event, Son also spoke of investing more in companies and startups he called “unicorns”. SoftBank has invested…

Please subscribe/login to read the full story.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

News

The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ