SoftBank returns to profit as investments rebound

TOKYO, Nov 12 (AP) - Japanese technology investor SoftBank Group Corp. reported on Friday a 3 trillion yen ($21 billion) profit for the July-September quarter, a sharp reversal from its loss a year ago.

After its 398 billion yen loss a year earlier, quarterly sales rose to 1.6 trillion yen ($11 billion) from 1.5 trillion yen, it said.

Tokyo-based SoftBank Group tends to have fluctuating and complex financial results because it invests in an array of companies, and their stock prices have shifted lately, depending on various global factors.

Among the factors boosting its bottom line were profits from prepaid contracts using Alibaba shares, reduction of interest-bearing debt and investment gains, SoftBank said. The settling of prepaid shares in e-commerce giant Alibaba alone brought in more than 4 trillion yen ($28 billion).

SoftBank invests in hundreds of companies, including mobile carrier SoftBank, web services provider Yahoo and vehicle-for-hire company Didi.

It also is involved in the Vision Fund that includes other global investors.

While its holdings in Alibaba worked as a plus for its bottom line, its Vision Fund investments hurt, according to SoftBank. ...continue reading

Lack of Carpenters Causing Construction Delays

A deepening labor shortage in Japan’s construction industry is beginning to impact homebuyers, with some experiencing delays of more than six months before construction can even begin due to a lack of available carpenters.

Osaka Expands Indoor Smoking Ban

From April 1st, a new regulation took effect across Osaka Prefecture requiring all restaurants with a customer seating area larger than 30 square meters to become entirely smoke-free indoors—unless they install a designated smoking room. Establishments violating the rule face fines of up to 50,000 yen, while customers may be fined up to 30,000 yen.

Japan's Imperial Household Launches YouTube Channel

The Imperial Household Agency launched an official YouTube channel on April 1st to introduce the activities of Emperor Naruhito and Empress Masako.

New Recruits Across Japan Mark First Day as Working Adults

Japan's new fiscal year began on April 1st, with companies across the country holding entrance ceremonies to welcome new employees.

Death Toll Could Reach 298,000 in Nankai Trough Megaquake

The Japanese government has released an updated damage forecast for a potential Nankai Trough megaquake, estimating that up to 298,000 people could die in the worst-case scenario. This projection reflects a slight reduction from the previous estimate of 332,000 deaths made 13 years ago.

MEDIA CHANNELS

MORE Business NEWS

Next-Gen Semiconductor Project Kicks Off in Hokkaido

The prototype line for next-generation semiconductors developed by Rapidus is now ready, as a nationwide initiative to boost Japan's chip industry takes a major step forward in Hokkaido.

Japan to Tighten Screening of Foreign Investments

The Japanese government approved a cabinet ordinance on April 1st to introduce a new pre-screening system for foreign companies investing in Japan. The revised regulation will take effect on May 19th.

Economic Outlook Dims for Japan's Industrial Giants

The Bank of Japan's March Tankan survey, a key quarterly economic report, showed that business sentiment among large manufacturers has deteriorated for the first time in four quarters.

Tokyo Starts Mandatory Solar Panels for New Houses

Tokyo has made it mandatory to install solar panels on newly built houses starting April 1st, as part of its broader effort to halve greenhouse gas emissions by 2030.

Sekisui House Holds Entrance Ceremony at Grand Green Osaka

The new fiscal year began on April 1st, with companies across the Kansai region holding entrance ceremonies to welcome new employees.

New Recruits Across Japan Mark First Day as Working Adults

Japan's new fiscal year began on April 1st, with companies across the country holding entrance ceremonies to welcome new employees.

Sukiya Closes Most Stores After Insect and Rat Contamination

Sukiya, one of Japan's leading beef bowl restaurant chains, announced it will temporarily close nearly all of its stores after an insect was found in a food item served at one of its outlets.

Fuji TV Announces Major Leadership Overhaul

Fuji Television announced a sweeping overhaul of its management structure on March 27th, including the retirement of longtime executive Hisashi Hieda, who served on the board for 41 years.

< 2 3 4 5 >