SoftBank Quarterly Profit Beats Expectations, Chip Investment Gains Boost Performance

TechFlow news, August 6, Japan's SoftBank Group announced that the quarterly net profit decline was smaller than expected, mainly benefiting from the rise in its chip-related investment portfolio, while the company is still waiting for further returns from its investment in OpenAI. The Tokyo-headquartered tech investment company's net profit in the first fiscal quarter fell 18% to 347.3 billion yen (approximately 2.2 billion USD), as unrealized gains on its investments in chip manufacturers offset the impact of declining startup valuations. In contrast, the market had expected the company's net profit to be about 166 billion yen. (Jin10)