Japan’s Softbank Group, led by Chairman Masayoshi Son, is expected to record annual profits in the late 4 trillion yen ($37 billion). It is due to Coupang’s recent listing on the U.S. stock market, the Yomiuri Shimbun reported on the 21st.
According to the newspaper, Softbank Group, like most Japanese companies, is expected to post the largest profit in Japanese corporate history. With a surplus of JPY 4 trillion expected in the consolidated settlement of accounts (International Accounting Standards) in March 2021.
Softbank previous year (settlement in March 2020) recorded the worst 1 trillion yen deficit instead of profits. But several investment companies, including Coupang, which has a 35% stake in the group, were listed on the U.S. stock market, resulting in trillions of yen in valuation profits. Last month, Bloomberg also reported that Softbank Group’s investment profit from the Coupang listing could reach $16 billion.
Despite the pandemic, the spread of telecommuting has also affected the surge in profits from Internet companies invested by the company. The newspaper explained that Softbank Group has a large character as an investment company. So its performance is fluctuating according to trends in the global stock market.
According to SMBC Nikko Securities, the maximum profit recorded by Japanese companies was about 2.5 trillion yen. Which Toyota Motor recorded in 2018. Among foreign companies, about 6 trillion yen recorded by Apple in September 2020 is the largest.
