SoftBank Group Corp. said Wednesday its group net profit in the year that ended March 31 more than tripled from a year earlier to a record ¥1.43 trillion ($12.5 billion), reflecting the improving profitability of U.S. unit Sprint Corp. and strength in its domestic telecommunications business.
Operating profit in fiscal 2016 totaled ¥1.03 trillion, up 12.9 percent, with sales up 0.2 percent to ¥8.90 trillion, the telecommunications and internet services giant said.
The turnaround at U.S. mobile carrier Sprint, bought by SoftBank in 2013, contributed to the strong results as the Sprint business segment posted a profit of ¥186.42 billion, more than triple a year earlier.