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TOKYO, May 16 Investment giant Softbank Group on Wednesday reported the best ever annual net profit for a Japanese company, reaping the rewards of tech share rallies to recover from last year’s record loss. The telecoms firm turned investment behemoth has poured money into some of Silicon.
SoftBank reports Japanese record of $45 bn annual net profit
Issued on: The impact of Covid-19 lockdowns has largely worked in SoftBank s favour Philip FONG AFP 3 min
Tokyo (AFP)
Investment giant Softbank Group on Wednesday reported an annual net profit of $45.8 billion, the best ever for a Japanese company, reaping the rewards of tech share rallies to recover from last year s record loss.
The telecoms-firm-turned-investment-behemoth has poured money into some of Silicon Valley s biggest names and hottest new ventures from AI to biotech through its $100-billion Vision Fund. The technology sector, where the company focuses its investment strategies, has been positively impacted by the accelerated adoption of digital services to address the pandemic, SoftBank said in a statement.
2021-05-07 13:06:11 GMT2021-05-07 21:06:11(Beijing Time) Xinhua English
TOKYO, May 7 (Xinhua) Tokyo stocks closed higher Friday on Wall Street s upbeat overnight performance and some encouraging Japanese firms earnings reports, although gains were again capped by concerns over Japan s extended and expanded COVID-19 state of emergency amid jitters ahead of U.S. jobs data for April.
Dealers here said investors sought out issues more favorably valued following their advance the previous day which saw investors selling for profits.
They added that firms reporting solid earnings and profit outlooks gained particularly traction, along with cyclical issues widely exposed to global economic trends on continued hopes for the worldwide recovery of the economy from the pandemic.
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