Japan’s SoftBank returns to profit after gains at Vision Fund and other investments

AP Business Writer

TOKYO (AP) — Japanese technology conglomerate SoftBank Group swung back to profitability in the July-September quarter, boosted by its Vision Fund investments. The Tokyo-based company reported fiscal second-quarter profit of nearly 1.18 trillion yen, or $7.7 billion. SoftBank credited income as coming from royalties and licensing related to its holdings in Arm, a computer chip-designing company, whose business spans smartphones, data centers, networking equipment, automotive, consumer electronic devices, and AI applications. The quarterly performance was also helped by the absence of losses related to SoftBank’s investment in office-space sharing venture WeWork, which hit the previous year.