logo
Plus   Neg
Share
Email

SoftBank Group Posts Loss In FY; Sales Up 1.5% - Quick Facts

SoftBank Group Corp. (SFTBY.PK,SFTBF.PK) said, mainly as a result of B through L, the company recorded a loss to owners of the parent of 961.6 billion yen for the fiscal year ended March 31, 2020 compared to profit of 1.4 trillion yen, previous year. Loss per share was 485.33 yen compared to profit of 628.27 yen, last year.

Operating loss was 1.4 trillion yen, for the fiscal year period. The company said the SoftBank segment recorded robust growth, with operating income increasing 7.4 percent year-on-year. Operating loss from SoftBank Vision Fund and other SBIA-managed funds was 1.9 trillion yen, for the fiscal year. Excluding results of SoftBank Vision Fund and other SBIA-managed funds, operating income declined to 566.7 billion yen from 817.0 billion yen.

Fiscal year net sales improved 1.5 percent to 6.2 trillion yen. Net sales increased in the SoftBank and Arm segments, but decreased in the Brightstar segment.

SoftBank Group said its investment businesses, particularly SoftBank Vision Fund, have already been adversely affected from the COVID-19 outbreak, with SoftBank Vision Fund recording an investment loss of 1.1 trillion yen in the fourth quarter due to a decline in the fair values of its investments. If the pandemic continues, the company expects the uncertainty in its investment businesses will remain over the next fiscal year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Amazon.com, Inc. can be held liable for damages caused by defective goods sold on its Marketplace including third parties, according to a ruling by a California appeals court. The California Fourth District Court of Appeals was pronouncing the ruling in a case where a defective replacement laptop battery caught fire and inflicted a woman with third-degree burns. Facebook has launched "Voting Information Center" on Facebook and Instagram platforms, with a view to boosting the number of Americans vote in the upcoming U.S. presidential election in November. The social media giant's latest initiative is expected to help 4 million voters register this year, and help them navigate a 'confusing election process'. Epic Games Inc., the developer of popular game Fortnite, has filed lawsuits against both Apple Inc. and Google after they removed the game from their app stores. The development reflects disputes related to app store fee the tech giants take from each purchase. Epic Games, which has been against the 30 percent revenue cut the two tech giants take from paid apps, added a direct payment option.
Follow RTT