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Japan's SoftBank says first-quarter profit jumps 50.1 percent after inclusion of Vision Fund

Reuters  |  TOKYO 

TOKYO (Reuters) - Japan's Corp on Monday reported a 50.1 percent rise in first-quarter operating profit, after the company included Vision Fund, the world's largest private equity fund, as a new reportable segment and booked a valuation gain.

The internet and telecoms giant said profit for the quarter through June increased to 479.2 billion yen ($4.33 billion).

has not released a forecast for the current business year ending March, saying there are too many uncertain factors.

Thomson Starmine SmartEstimate puts full-year profit at 1.16 trillion yen, based on the estimates of 20 analysts.

is a prolific investor in technology startups, with founder and chief executive officer Masayoshi Son instrumental in creating Vision Fund.

Recent investments include U.S. online lender Kabbage Inc, which on Thursday said it had received a $250 million from

also has a foothold in the U.S. market through its wireless unit Sprint Corp, which last week reported a quarterly profit for the first time in three years as a of cost cutting efforts.

The fourth-biggest U.S. wireless carrier by subscribers is exploring options to boost finances and better compete, through means such as merging with T-Mobile US Inc as well as a tie-up with cable provider Charter Communications Inc.

($1 = 110.7100 yen)

(Reporting by Sam Nussey; Editing by Christopher Cushing)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, August 07 2017. 11:58 IST