Softbank Investment Corp. said Wednesday its group earnings plunged in the first half through March 31, blaming falling revenues on the extended economic slump and stagnant stock market conditions.
The venture-capital firm in the Softbank Corp. group said it posted a net profit of 815 million yen in the half year, down 91 percent from the same period a year earlier.
Its pretax profit also tumbled 90.2 percent to 1.54 billion yen, while revenues fell 66.3 percent to 5.79 billion yen.
Net profit per share stood at 2,472.89 yen, down from 87,566.48 yen a year ago.
For the full year through Sept. 30, the company expects a net profit of 2 billion yen and a pretax profit of 3.5 billion yen on revenues of 10 billion yen.
In the previous fiscal year, Softbank Investment logged a consolidated net profit of 8.16 billion yen and a pretax profit of 14.89 billion yen on revenues of 20.89 billion yen.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.