Japan tech giant SoftBank posts USD 23 billion quarterly loss

Aug 09 (dailyexcelsior.com) - Japanese technology company SoftBank Group posted a USD 23.4 billion loss in the April-June quarter as the value of its investments sank amid global worries about inflation and interest rates.

SoftBank Group Corp.’s loss of 3.16 trillion yen was a reversal from its 762 billion yen profit in the same quarter a year earlier. The company said on Monday that quarterly sales rose 6 per cent.

For the fiscal year that ended in March, Softbank racked up losses of 1.7 trillion yen (USD 13 billion), a reversal from the 4.9 trillion yen profit for the previous year. Annual sales grew 10.5 per cent to 6.2 trillion yen (USD 46 billion).

Although Softbank’s portfolio is not directly exposed to the war in Ukraine, the company warned that global uncertainty as well as inflation and soaring energy costs would likely hurt its profitability. Foreign exchange losses also bit into its earnings.

Softbank’s intended sale of British semiconductor and software design company Arm to Nvidia failed earlier this year.

Tourists Flock to Hokkaido for Lunar New Year

Hokkaido is taking steps to address overtourism issues as large numbers of foreign visitors arrive during the Lunar New Year holiday.

Mahoroba Hydrogen Fuel Cell Ship Debuts, Connecting Central Osaka and Expo Site in 60 Minutes

The hydrogen fuel cell ship "Mahoroba," designed to connect central Osaka with the Expo venue in Yumeshima in approximately 60 minutes, was unveiled to the media ahead of its commercial launch during the Expo period.

Two Sinkholes Merge Into One as Yashio Road Collapse Worsens

A road collapse in Yashio, Saitama Prefecture, has now entered its third day, approaching the 50-hour mark since the incident first occurred. A secondary collapse in the early hours has caused two separate holes to merge into one large sinkhole, complicating ongoing rescue efforts.

Japanese Clinics Gaining Popularity Among Travelers

From sudden severe pain during a gourmet-filled trip to chronic illness attacks that medication cannot treat, what kinds of symptoms bring foreign tourists to clinics?

Public Smoking Ban Across Osaka, Violators Fined 1,000 Yen

Starting January 27, Osaka City has implemented a citywide ban on smoking in public areas, including heated tobacco products, as part of preparations for the Osaka-Kansai Expo set to open in April.

MEDIA CHANNELS

MORE Business NEWS

Manga-based movies dominate 2024 box office in Japan

Manga-based movies were big hits in Japan last year. They took the top three spots, helping Japanese films see record box-office proceeds. (NHK)

Can Higher Interest Rates Ease Household Finances?

Banks are engaged in an intense battle to attract deposits, pushing interest rates higher. While savings account holders may benefit from increased interest earnings, rising rates also mean heavier mortgage burdens and potential rent hikes.

Fuji TV Crisis Deepens

Fuji TV held a press conference on January 27 at 4 p.m. to address allegations reported in the media that an employee was involved in a dispute between TV personality Nakai and a woman. Fuji TV explained that investigating Nakai at this stage might negatively impact the woman’s mental health and risk further harm if Nakai attempted to contact her.

Fuji TV executives resign amid scandal

Leaders of Fuji Television announced their resignations on Monday amid growing pressure on the Japanese broadcaster over a major scandal involving a TV personality. (NHK)

Proxtrend レビュー

金融市場の世界では、取引の人気が高まっており、取引へのアクセスを提供するプラットフォームはトレーダーの成功に重要な役割を果たしている。

Tesla, BYD to launch electric SUVs in Japan

The world's two largest electric vehicle makers want to make bigger inroads into Japan's struggling EV market. America's Tesla and China's BYD both have plans to roll out new SUVs in April. (NHK)

BOJ Raises Policy Rate to 0.5%

The Bank of Japan (BOJ) has decided to raise its policy interest rate from an annualized 0.25 percent to 0.5 percent. This marks the first rate hike in six months and appears aimed at correcting the historically weak yen.

Farmers Voice Concerns Over New Agricultural Law

Japan is facing significant challenges in its food supply chain as new laws and rising prices create widespread concern among farmers and consumers. The recently introduced Food Supply Crisis Management Law, set to take effect on April 1, will prohibit farmers from leasing unused farmland, with severe penalties for violations.

< 2 3 4 5 >