Society

SoftBank says first-half net profit up 347% to $18 billion

Nov 10 (Japan Times) - SoftBank Group said Monday its first-half net profit soared 346.7%, sealing a strong recovery after a massive annual loss, as tech stocks rally and the firm sheds assets to shore up its finances.

Net profit for the six months to September came to Â¥1.88 trillion ($18 billion), up from Â¥421.6 billion a year earlier, the conglomerate said.

The profit surge was mainly due to gains on its investments, which topped Â¥2 trillion for the period.

SoftBank, however, said it would not offer a forecast “as it is difficult to foresee consolidated results due to numerous uncertain factors”.

SoftBank reported a nearly Â¥930 billion net loss in the previous full fiscal year, but quickly returned to the black in the first quarter.

Masahiko Ishino, an analyst at Tokai Tokyo Research Institute, said SoftBank had displayed “a steady performance” in line with robust gains in the global equity market.

SoftBank founder Masayoshi Son has transformed a telecoms company into an investment and tech behemoth with stakes in some of Silicon Valley’s hottest startups through its $100 billion Vision Fund.

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.

University of Tokyo Raises Tuition Fees for First Time in 20 Years

The University of Tokyo has officially decided to increase tuition by approximately 110,000 yen for incoming undergraduate students starting next academic year, bringing the total to 642,960 yen.

MEDIA CHANNELS

MORE Society NEWS

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)

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.