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.…
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