An annual increase in sales of 3.7% to ¥2.23 trillion ($19.5 billion) was reported by Masayoshi Son's tech venture empire on Monday for the second fiscal quarter through September. Softbank Group Corp.'s stocks finished 2.6% lower in Tokyo, at ¥9,945. Much lower tax liabilities than in the same period of 2016 offset the slump in pretax income. One year before, the holding benefited from windfall from discontinued operations.
Net profit came in at ¥113.2 billion ($9.9 billion) or 285.8% higher on an annual scale on the basis of continuing operations, but it was 78.6% down from the previous attributable sum. Operating income was ¥395.6 billion, or 20.6% more than in the same quarter of last year.
The telecommunications giant based in Japan saw revenues of Sprint Corp. rise, helped by and Arm Holdings Plc's performance as well as Yahoo Japan and the distribution segment, to make up for weak core results in the domestic market. SoftBank revealed it intends to buy shares in the United States–based business to lift ownership from 82%, but not above 85%. Total earnings per diluted share landed at ¥80.83, a drop of 82.2%. The dividend was determined at ¥22, the same as one year before.
