TOKYO— SoftBank Group Corp. smashed profit records in its home country, riding a series of blockbuster initial public offerings to an annual net income of 4.99 trillion yen, equivalent to $45.9 billion—the highest ever for any Japanese company.
The results, which include a record profit of ¥1.93 trillion for the quarter that ended in March, cap a wild year in which the Japanese technology investor rode roller-coaster stock markets from the lows at the beginning of the pandemic to recent highs. The numbers were driven largely by an annual investment gain of ¥6.29 trillion at its $100 billion Vision Fund and its successor, whose portfolio companies have been listing in droves as the stock market soars. The Vision Fund’s biggest win was a ¥2.6 trillion investment gain from its nearly 40% stake in South Korean e-commerce company Coupang Inc., which
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Source: Reuters - 🏆 2. / 97 Read more »