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TOKYO (Reuters) – The Japanese group Softbank has achieved a quarterly operating profit above expectations, thanks to a considerable increase in investment gains thanks to its $ 100 billion vision fund.
The group's commercial results have been increasingly volatile and the group's founder and CEO, Masayoshi Son, has gone from predictable telecom revenues to betting, via the group's giant fund, on variable growth start-ups according to Sharia.
Softbank announced Wednesday that its operating profit in the Saudi-sponsored Vision Fund, worth $ 100 billion, rose 66 percent to 397.6 billion yen in the first quarter of June. .
The group's $ 66.3 billion investment in 81 companies is currently valued at $ 82.2 billion, with investments in companies such as Oyo Hotel Chains and Dordash Delivery Service, the group said.
The impact of these gains, however, was offset by an unrealized loss of 195 billion yen resulting from a decline in the value of stakes in companies such as Uber Pbadenger Applications, whose shares are traded below. the price of its initial public offer.
Softbank, which invested in technology in the first quarter, posted a profit of 688.8 billion yen ($ 6.49 billion), down 3.7% over the same period of time. previous year, when commercial results had fallen from the sale of a stake in Chinese chip design company, ARM.
The results exceeded the estimates of 336 billion yen compiled by five badysts compiled by Refinitiv.
The results come as Softbank prepares to launch a second Vision fund, which announced last week that it had pledged $ 108 billion.
Softbank plans to pay $ 38 billion to the new fund. A source told Reuters that the group would rely on the proceeds of the first Vision Fund to fund its contribution.
(USD = 106.2000 yen)
(Reuters)
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