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SoftBank Group, which invests aggressively in artificial
intelligence, energy and robotics, recorded a 347.3 billion yen
($2.2 billion) profit for the April-June period, down from 421.8
billion yen a year earlier.
Quarterly sales rose nearly 11% to 2 trillion yen ($12.7
billion).
Chief Financial Officer Yoshimitsu Goto told reporters that its
business with Arm, a British semiconductor and software design
company, was doing well.
Tokyo-based SoftBank has invested an additional $20 billion in
OpenAI and plans more investments in the current fiscal year, he
said.
SoftBank’s results tend to go up and down because it invests in
an array of companies through its Vision Fund, which banks
heavily on fledgling technology. Such bets tend to produce big
wins, as well as carry risks.
Among the companies SoftBank has invested in are ByteDance, the
parent company of TikTok; U.S. chip maker Intel Corp.; PayPay, a
Japanese mobile payment and digital wallet service; and Taiwan
Semiconductor Manufacturing Company, or TSMC.
The company, founded in 1981 by Chief Executive Masayoshi Son,
began by investing in internet- and computer-related businesses.
It’s since added a variety of futuristic projects under its
wing.
One area Son is focused on lately is autonomous driving. Another
in the works is ABB Robotics, which focuses on automation,
robotic arms and mobility.
SoftBank Group does not give annual forecasts. SoftBank Group
shares finished 4% lower in Tokyo trading.
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