SoftBank Group booked record quarterly earnings for a Japanese company in its fiscal Q4 (to end-March) on the back of a JPY2.3 trillion ($21.2 billion) profit from its Vision Fund, Bloomberg reported.
The Vision Fund gain was driven by the listing of some of the companies on its books, including South Korean e-commerce company Coupang and US food delivery service DoorDash, the news outlet stated.
In the full year, a JPY4.9 trillion profit overturned a JPY961.6 billion loss in fiscal 2019, on revenue of JPY5.6 trillion, up 7.4 per cent.
Its two Vision Funds have invested in 125 companies: including these, annual gains from investments hit JPY7.53 trillion.
Revenue at chip design unit Arm increased 9.5 per cent to $1.98 billion, with royalty revenue rising 16.7 per cent.
The company said royalties were driven by shipments of Arm-based chips used in 5G smartphones and base stations. It noted as conditions in the semiconductor industry improve, Arm expects its business will continue to grow.
It repurchased about $23 billion worth of its own shares in fiscal 2020.
Fiscal Q4 2020 net profit reportedly stood at JPY1.9 trillion.
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