SoftBank reported its performance for the quarter ending September 2024, with total revenue of 1.768 trillion yen and a net profit of 1.227 trillion yen. The high net profit rate is a result of the company’s investment returns, with SoftBank recording a profit of up to 2.01 trillion yen, primarily from the stock prices of T-Mobile and Alibaba which saw an increase.
The Vision Fund segment saw a profit of 610 billion yen in the past quarter, an improvement from the same period last year when it recorded losses of 259 billion yen, mainly due to WeWork. Vision Fund 1 achieved high returns from investments in Coupang, a major e-commerce player in South Korea, and DiDi, a ride-hailing app in China. On the other hand, Vision Fund 2 experienced losses due to declining stock prices of robotics company AutoStore and technology firm Symbotic.
In the latest quarter, Vision Fund 2 made additional investments in three companies – Glean, an AI-powered data search service, Poolside, a code-writing tool using GenAI, and OpenAI. The capital was raised with a joint investment of 500 million dollars.
TLDR: SoftBank reported a significant net profit in the last quarter due to strong investment returns, with Vision Fund segment showing improved performance compared to the previous year. Vision Fund 2 made new investments in companies focusing on AI technology.
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