SoftBank H1 net profit up at $7.4b

Japan’s SoftBank Group said Monday it logged an eightfold jump in net profit in the six months to September thanks to strong returns from its investment funds.

Net profit rose to ¥840 billion ($7.4 billion) from ¥103 billion during the same period last year, the Japanese mobile giant and IT investor said. The rise was largely driven by gains of ¥649 billion from the SoftBank Vision Fund, which compared to ¥194 billion in the previous period.