Jul 28, 2016

SoftBank profit rises on proceeds from Alibaba stake sale

SoftBank Group Corp.’s first-quarter profit rose 19 percent as proceeds from selling part of its stake in Alibaba Group Holding Ltd. helped offset losses at Sprint Corp. Net income at the carrier rose to ¥254.2 billion in the three months ended June 30, the ...

SoftBank gets serious about tackling debt with asset sales

Jun 6, 2016

SoftBank gets serious about tackling debt with asset sales

After years of acquisitions saddled SoftBank Group Corp. with record debt and weighed down its stock, founder Masayoshi Son is getting serious about improving the company’s balance sheet. SoftBank has announced a series of asset sales as part of a broader effort to re-examine ...

May 10, 2016

SoftBank reports 8.8% jump in profit for year on Sprint savings

SoftBank Group Corp. on Tuesday said operating profit rose 8.8 percent in the just-ended business year, a tad short of analysts’ estimates, pushed up by robust domestic operations and cost cuts at U.S. subsidiary Sprint Corp. The telecoms conglomerate reported profit of ¥999.5 billion ...

Feb 10, 2016

SoftBank profit down 88% amid Sprint struggle

SoftBank Group Corp., which is struggling to turn around its U.S. wireless carrier Sprint Corp., posted an 88 percent drop in third quarter profit. Net income fell to ¥2.3 billion ($20 million) in the three months ended Dec. 31, from ¥18.7 billion a year ...

Aug 19, 2015

SoftBank beefs up Sprint stake with second purchase this month

SoftBank Group increased its stake in Sprint Corp. a second time this month, acquiring ¥7.51 billion($73 million) of stock in the unprofitable U.S. wireless operator. The Japanese carrier paid for 16.8 million shares, according to Bloomberg calculations based on a SoftBank filing with the ...

Oct 14, 2014

Rajeev Misra said to be leaving Fortess for role at SoftBank

Rajeev Misra, a former debt-trading executive at Deutsche Bank AG and UBS AG who joined Fortress Investment Group LLC earlier this year, is leaving for SoftBank Corp., according to three sources briefed on the move. Misra, 52, has not left New York-based Fortress yet, ...

Softbank unveils new smartphone developed with Sprint

Aug 19, 2014

Softbank unveils new smartphone developed with Sprint

SoftBank Corp. unveiled on Monday a new smartphone developed with U.S. subsidiary Sprint Corp. to cut procurement costs and strengthen its product lineup. Manufactured by Sharp Corp., the first handset developed with the third-largest U.S. mobile phone carrier goes on sale in Japan on ...

Sprint names new CEO after dropping bid for rival T-Mobile

Aug 7, 2014

Sprint names new CEO after dropping bid for rival T-Mobile

Sprint’s new owner is replacing its longtime CEO with a Hispanic billionaire and entrepreneuer after dropping its bid for rival wireless carrier T-Mobile US. Marcelo Claure, the CEO of Miami-based cellphone distributor Brightstar, will replace Dan Hesse on Monday, Sprint Corp. said Wednesday. Claure, ...