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.

Ishiba Shigeru elected LDP leader

Ishiba Shigeru has been elected leader of Japan's main ruling Liberal Democratic Party. The former LDP Secretary-General is now virtually assured of becoming the next prime minister. (NHK)

Hakamada Case Ends With Acquittal After 58 Years

The Hakamada case, a decades-long legal struggle, ended with an acquittal for Iwao Hakamada (88), who, along with his sister Hideko, fought for 58 years. Hakamada was suspected of the 1966 murder of a miso company executive’s family.

Japan launches information-gathering satellite on H2A rocket

A Japanese government information-gathering satellite has successfully been put into a planned orbit around Earth. (NHK)

New Red Lights for Japan's Police Cars

Japan's National Police Agency is introducing new patrol cars equipped with red lights designed to assist people with hearing impairments, flashing differently depending on whether the vehicle is on an emergency run or a routine patrol.

Over 300 New Geoglyphs Discovered by Yamagata University in Nazca

Yamagata University, which has been conducting research on the Nazca geoglyphs in Peru, announced the discovery of over 300 new geoglyphs, depicting a variety of subjects, including humans and animals.

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Australia nabs four Japanese for smuggling cigarettes

Four Japanese men have been caught at an Australian airport on suspicion of trying to smuggle a large amount of cigarettes into the country. (NHK)

New Red Lights for Japan's Police Cars

Former 'Breaking Down' Representative Arrested in Fake Investment Scheme

The former representative of the martial arts event company 'Breaking Down,' Yugo Itagaki, along with two other individuals, has been arrested by the Tokyo Metropolitan Police on charges of defrauding a company executive out of 80 million yen.

Woman in Floral Mini-Skirt Targets Zoo Outlets with Mysterious Tape

Strange incidents involving a woman placing black tape on outlets have been occurring around zoos in the Izu area of Shizuoka Prefecture.

Japanese Households with Buddhist Altars Has Drastically Decreased

As the number of households with Buddhist altars continues to decline, largely due to space limitations in modern housing, wholesalers of Buddhist goods are struggling with unsold inventory.

Twelve Referred to Prosecutors for Alleged Abuse at Kuwana Festival Horse Event

Twelve individuals involved in the traditional 'Ageuma Shinji' horse event held last year at Tado Shrine in Kuwana City, Mie Prefecture, have been referred to prosecutors on allegations of violent behavior toward horses, including forcing them up steep slopes.

Man Attacks Female Student to Steal Phone

A 39-year-old man has been arrested on suspicion of attacking a female university student by covering her head with a bag and attempting to strangle her.

Video of Penguins Chasing Butterfly Goes Viral

A group of Humboldt penguins at Tokuyama Zoo in Yamaguchi Prefecture has captured people's hearts, as they chase a butterfly that had accidentally flown into their pool enclosure.

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