(ANSA) - TOKYO, 08 FEB - First profit in five quarters for the Japanese investment and technology company SoftBank, thanks to recent capital gains from investments in the financial markets.
Between September and December the profit stood at 985.5 billion yen, equivalent to approximately 6.15 billion euros, and compares with a loss of 744.7 billion yen in the same reference period of 2022. At the end of trading in Tokyo, the SoftBank stock recorded an increase of 11%, to the highest levels since 2021, thanks to the optimistic forecasts released by the subsidiary Arm Holdings, a high-end semiconductor manufacturing company, on the turnover of the first quarter.
The Japanese conglomerate, born as a telephone operator and led by the billionaire of Korean origin Masayoshi Son, has bet in recent years on a series of start-ups active in the research and development of artificial intelligence (AI), accumulating huge losses through the Vision Fund, the investment fund that runs jointly with the government of Saudi Arabia.
A trend that has only recently begun to reverse, despite the volatility, with bets proving to be more far-sighted, investors say.
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