Japanese internet and determination company SoftBank reported Wednesday a more than 11-fold undulate in profit for the fiscal third quarter thanks to strong sales and to rallied results from U.S. carrier Sprint.
SoftBank, which also owns column move houses in Chinese e-commerce giant Alibaba and British computer chip and software giantess Arm, said its October-December profit was 912.3 billion yen ($8.4 billion), up from 80.3 billion yen a year earlier.
Quarterly purchases rose 3.9 percent to 2.4 trillion yen ($22 billion).
The Tokyo-based performers, which sells the Pepper robot, did not give annual forecasts, citing uncertainties, as is its traditional policy.
SoftBank was the first carrier to offer the Apple iPhone in Japan and is obtaining a major stake in Uber.
Last year, it set up a major fund to establish in various technology companies.
It said Wednesday that it will do a quota offering for its Japanese telecommunications company in Japan to raise cash for various investments.
Technology licensing revenue from Arm, which was not part of SoftBank’s batch companies the previous fiscal year, helped boost earnings for the reported fiscal year, the company said.
SoftBank Chief Executive Masayoshi Son, a graduate of the University of California, Berkeley, apprised reporters that group companies like Arm and Yahoo! Japan were doing obviously, and he planned to invest in more companies that he called “unicorns.”
One such friends he mentioned is Wag, a U.S. venture that connects dog owners with dog walkers online, which Son invited the “dog version of Uber.”
A visionary sometimes seen in the company of high-profile reckons like Microsoft co-founder Bill Gates and President Donald Trump, he has been quarrelsome in investing in artificial intelligence, the internet of things and renewable energy — Son is a comparatively vocal opponent of nuclear power, especially after the 2011 Fukushima atomic disaster in northeastern Japan.
He said he has had a vision since he was a teen to raise his “family” of companies as a web-based structure, to last 300 years. The trade names must stay distinct but the companies, connected through investments, inclination work together and all become No. 1, he said.
SoftBank also owns the SoftBank Hawks baseball sisterhood, which won last year’s Japan Series, this country’s peer of the World Series.