Illustration of the Softbank logo. (REUTERS / Yuya Shino).

Skyrocket Sales, Softbank Profit Reached USD 10.5 Billion

Estella Claudia
Market & Investment
Indonesia Market
Aug 08, 2019
1847
Tokyo, Japan - It is reported that Softbank's profit is highly increased and reached 857 billion yen because the delayed profits from the sale of shares in e-commerce giant China, Alibaba, in 2016. According to Softbank CEO, Masayoshi Son, this is the first time their quarterly net profit has exceeded 1 trillion Japanese yen and it is such an extraordinary performance for the company.

It is reported that Softbank Group recorded a net profit for the April-June 2019 period of 1.12 trillion yen, equivalent to US $ 10.5 billion. The profit recorded a triple digit growth or 257.6 percent compared to the same period in 2018.

Softbank also that they will collaborate with Apple and Microsoft technology companies to accelerate the artificial intelligence (AI) revolution with the investment to be disbursed reached USD 108 billion in the period.

Since Softbank went from a software company to an investment company, they will start to invest in several start-up companies, mainly Grab Indonesia as the Indonesian market is currently increasingly well. It is reported that last week, Softbank has invested USD 2 billion or equivalent to IDR 28 trillion to build Grab's head office in Indonesia this year.

Source: https://www.cnnindonesia.com/ekonomi/20190807192553-92-419309/laba-softbank-group-tumbuh-tiga-digit

Softbank , Profit , Increased , Investment , Indonesia