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…
- Meta To Launch EU Operations Center to Combat Election Misinformation February 27, 2024
- Vijay Shekhar Sharma resigns from Paytm Bank board February 27, 2024
- Indonesia enacts regulation requiring digital platforms to pay news publishers for content February 27, 2024
- MeitY amends IT Rules, 2009 widening scope of who gets to delete interception records February 27, 2024
- Bank Record Verification to Facilitate Pension for Those Without Aadhaar: Allahabad HC Ruling February 27, 2024
This amendment widens the scope of those allowed to delete records pertaining to the direction of interception from law enforcement bodies to other authorities...
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...
The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...
Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...
Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...
RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
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...
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...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
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...