SoftBank posts $45 bln profit as tech stocks soar

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2 個月前

Only a year ago it posted a record loss.

Now SoftBank Group seems to be bouncing back fast.

On Wednesday (May 12) the Japanese investment giant posted full-year net profit of almost 5 trillion yen.

That's over $45 billion, making it one of the world's most profitable firms.

SoftBank's mammoth Vision Fund has been helped by market enthusiasm over tech stocks.

That drove share listings for firms like Coupang.

The South Korean e-commerce firm is viewed as a rival to Amazon after receiving billions of dollars in investment from SoftBank.

Now investors are looking at what's next.

Yet-to-list firms in the SoftBank portfolio include Chinese ride-hailing giant Didi, and TikTok owner Bytedance.

Office sharing firm WeWork, and ride hailing company Grab also have plans to list shares.

A year ago some investors were asking if founder Masayoshi Son had lost his touch.

Now some still ask whether the Vision Fund can repeat its blockbuster performance in the coming quarter.

Much of the fund's gain is also only on paper, with the value of the portfolio locked up in the stock market.

The tech rally has some investors worried over frothy valuations.

But with trillions of yen in profits booked, Son's reputation is probably safe for now.

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