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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  SoftBank Group Corp.    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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UPDATE1: SoftBank Group logs record 1.88 tril. yen net profit in April-Sept.

11/09/2020 | 03:18am EST

SoftBank Group Corp. said Monday its net profit surged more than four-fold to a record 1.88 trillion yen ($18 billion) in the April-September period from a year earlier thanks to large-scale asset sales aimed at improving its financial position.

The 346.7 percent jump, a turnaround from a 49.8 percent fall a year earlier, came after it posted huge losses from poor investments in We Co., operator of U.S. shared workspace provider WeWork, in the fiscal year that ended in March.

In the six months to September, the Japanese investment conglomerate said sales totaled 2.63 trillion yen, up 3.6 percent, with its investment returns standing at 2.03 trillion yen.

Its investment funds, including the nearly $100 billionVision Fund, logged a profit of 1.34 trillion yen, thanks to a sharp recovery in stock markets around the world since the coronavirus-driven sell-off earlier in the year, the company said.

SoftBank Group did not provide earnings on an operating basis or give a full-year forecast.

SoftBank has compiled a 5.6 trillion yen war chest as of the end of September after selling up to 4.5 trillion yen worth of assets including a large part of its stake in T-Mobile U.S. Inc. and a 5 percent stake in its Japanese subsidiary wireless carrier SoftBank Corp.

In addition, the parent company announced in September its plan to sell its entire stake in British chip designer Arm Ltd. to U.S. semiconductor maker Nvidia Corp. for up to $40 billion, expecting to complete the sale by around March 2022.

SoftBank Group acquired Arm in 2016 for $31 billion.

In fiscal 2019 ended in March, the Japanese firm posted a record net loss of 961.58 billion yen for its first red ink in 15 years.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
SOFTBANK CORP. -0.33% 1350.5 End-of-day quote.4.45%
SOFTBANK GROUP CORP. 2.90% 8946 End-of-day quote.11.02%
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Financials
Sales 2021 5 794 B 55 952 M 55 952 M
Net income 2021 1 720 B 16 611 M 16 611 M
Net Debt 2021 9 464 B 91 392 M 91 392 M
P/E ratio 2021 8,79x
Yield 2021 0,47%
Capitalization 16 102 B 156 B 155 B
EV / Sales 2021 4,41x
EV / Sales 2022 4,28x
Nbr of Employees 80 909
Free-Float 63,0%
Chart SOFTBANK GROUP CORP.
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SoftBank Group Corp. Technical Analysis Chart | 9984 | JP3436100006 | MarketScreener
Technical analysis trends SOFTBANK GROUP CORP.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 14
Average target price 8 629,14 JPY
Last Close Price 8 946,00 JPY
Spread / Highest target 23,0%
Spread / Average Target -3,54%
Spread / Lowest Target -22,9%
EPS Revisions
Managers and Directors
NameTitle
Masayoshi Son Chairman & Chief Executive Officer
Raul Marcelo Claure Chief Operating Officer & Vice President
Yoshimitsu Goto Chief Financial Officer & Senior Managing Director
Norikazu Oba Manager-Finance & Planning
Ken Miyauchi Director
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