Tokyo: Softbank Group Corpo.
9984 4.45%
Large quarterly profits ride red-hot stock markets behind the benefits of its 100 100 billion Vision Fund and its billion 10 billion investment.
Investors in Japanese technology said Monday it posted a net profit of 1. 1.17 trillion, equivalent to about 11 11 billion, on investment gains of 1. 1.77 trillion for the quarter ended December 31. About 80% gain was due to strong performance on Vision Fund 1 and 2.
In anticipation of strong results, Softbank’s share price rose 4.4% on Monday to 85, 85 to – the last time it was seen was in February 2000, when the company’s shares soared during the Internet bubble.
“We have entered the Tokyo news conference, standing in front of the slide showing the golden egg tower, representing the hit of Softbank,” said Masaoshi Sone, chief executive of Softbank.
The results highlight how much the boom in the public markets over the past few months has benefited Softbank, which over the past year has completed its profile in a company with investments from the telecommunications organization. Rising share prices last year helped Softbank recover from the loss of millions of dollars to black.
It has grown in recent quarters, advancing the market capitalization of Vision Funds’ listed companies કંપની most important ride-hailing company Uber Technologies. Inc.,
One of the fund’s largest investments.
Vision Fund’s portfolio company Durdesh while enthusiastic public market investors also gave Softbank an investment bonus. Inc.
Listed in December. U.S. Shares of the food-delivery company rose immediately better than their initial public offering price. By the end of the month, Dordesh had raised more than $ 8 billion on paper, and its shares have risen steadily since then.
Softbank said the Vision Fund had its best-ever result in the quarter ended December, resulting in a 13 13 billion increase in the value of its investments.
Softbank will continue to take advantage of strong markets this year. Rajiv Mishra, chief executive of the Vision Fund, told boutique research firm New Street Research in November that half a dozen or more investors in the Vision Fund, some of whom are already valued at millions of dollars – are reading into early public offerings this year. Mr Putra said his funds together could generate 10 to 20 IPOs a year.
Softbank has also rolled out list applications of at least four special purpose acquisition companies or SPACs, blank-check companies that are first disclosed and then the company gets the company to handle the list.
The performance in Softbank’s new investment unit was not so good, said SB Northstar, an asset-management company run by Mr. Son, which invests in listed tech companies. The unit, in which Mr. Putra owns a third stake, raised its socks last year when it was believed that the share prices of some large tech companies would rise.
It hurt Bates ste ste bho, and wound up his options deal by the unit late last year, people familiar with the matter said at the time. Between its derivatives trade and stock investments, SB Northstar has reported an investment loss of about રોકાણ 170 billion in the most recent quarter, according to Softbank data released on Monday.
Mr Putra said he was still investigating Northstar and was posting that benefit by Monday.
Write to Fred Dvorak at [email protected]
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