Japan’s SoftBank racks up huge profit gains with lift from lucrative AI investments
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TOKYO (AP) — Japanese technology investor Softbank Group Corp. reported Wednesday that profits for the fiscal year through March zoomed by nearly five-fold from the previous year as its AI investments paid off. The Tokyo-based company recorded an annual profit of 5 trillion yen ($32 billion), far greater than the 1.15 trillion yen profit racked up the previous year. Sales climbed nearly 8% on-year to nearly 7.8 trillion yen ($50 billion) from 7.2 trillion yen, the company said in a statement.
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