SoftBank Group Corp 9M net income soars aided by net gain from Sprint sale

9 Feb 2021

Japan’s SoftBank Group Corp reported that its net income attributable to owners of the parent company for the nine months ending 31 December 2020 reached JPY3.055 trillion (USD28.9 billion), up 541.1% from JPY476.587 billion in the year-ago period, helped by a gain of JPY721.068 billion from the sale of its stake in US wireless carrier Sprint, which merged with T-Mobile US. Nine-month net revenues increased by 6.1% year-on-year to JPY4.138 trillion, aided by gains in investments of JPY846.5 billion related to Investment Business of Holding Companies and gains on investments at SVF1 and SVF2, it said, and pre-tax income surged 133.0% to JPY3.362 trillion boosted by changes in finance costs, derivative losses and a change in third-party interests.

Last week, SoftBank’s domestic arm SoftBank Corp reported that operating income for the nine months ended 31 December 2020 rose 5.8% y-o-y to JPY841.583 billion from JPY795.127 billion, underpinned by another strong performance from its mobile business. Third quarter revenue increased by 5.2% to JPY3.807 trillion, and net income (attributable to shareholders) climbed 16.0% to JPY542.952 billion.

Japan, SoftBank Corp, SoftBank Group Corp