Society

SoftBank posts $11.8bn net profit in first quarter

Aug 11 (Nikkei) - SoftBank Group on Tuesday reported a net profit of 1.25 trillion yen ($11.8 billion) in the April-June quarter thanks to the merger and sale of its stake in U.S. mobile carrier Sprint, marking a return to profit after suffering its worst ever loss in the previous quarter.

Better performance at SoftBank's near $100 billion Vision Fund also helped reverse the losses. The fund segment posted an investment gain of 296 billion yen, thanks to mostly unrealized gains in the value of its 86 portfolio companies. These include U.S. ride-sharing company Uber Technologies and biotech firm Vir Biotechnology.

SoftBank founder and chairman Masayoshi Son has shifted to a defensive strategy amid looming uncertainty caused by the new coronavirus pandemic.

In March, the company announced plans to sell $41 billion worth of assets over the next year. In June Son said it had already realized about 80% of the target by selling shares in T-Mobile and its Japanese mobile arm SoftBank Corp, as well as from using its stake in Alibaba Group Holding. SoftBank has used some of the proceeds to buy back its own shares.

Typhoon No. 24 (Fung-shen) Moves Toward Vietnam, Heavy Rain Forecast For Japan

Typhoon No. 24 (Fung-shen) is strengthening over the South China Sea and is expected to make landfall in Vietnam later this week, according to forecasts. Satellite images on October 20th show extensive cloud coverage over the central South China Sea. After passing over the Philippines, Fung-shen temporarily weakened but is projected to intensify again as it continues westward through Tuesday.

Real-Life Water Police: Protecting Tokyo’s Seas and Rivers

Tokyo’s seas and rivers, once considered lawless backwaters beyond the reach of regular policing, are now under constant watch by a dedicated force known as the “water police,” specialists who patrol the capital’s waterways, chase down smugglers, stop reckless jet ski riders, and carry out dramatic rescue missions to save lives.

Tourist Graffiti Threatens Kyoto’s Iconic Bamboo Forest

Kyoto’s world-famous Arashiyama district, a popular destination for both domestic and international tourists, is facing a growing problem of graffiti etched into the bamboo along its iconic “Bamboo Grove Path,” with more than 350 stalks now damaged — a practice that experts warn could eventually cause bamboo to weaken, fall, and even injure visitors.

Japanese Streaming Services Struggle Against Netflix

Japan’s streaming industry is under growing pressure as foreign giants tighten their grip on the domestic market, with Netflix’s latest move to secure exclusive broadcast rights in Japan for every game of the World Baseball Classic next March highlighting the widening gap.

Japan Tightens Rules on Foreign Business Visas

Investigators from the Immigration Services Agency conducted on-site inspections in Osaka on October 14th amid a surge in so-called 'paper companies' created by foreign nationals seeking residency.

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Mako Komuro Appears in Six-Page Town & Country Feature

The October issue of the long-established American lifestyle magazine Town & Country features Mako Komuro, the eldest daughter of the Akishino family, on the cover under the headline "Princess Ingognito," dedicating a six-page spread to Komuro and her husband Kei, exploring their life in the United States.