Profit at Japan’s SoftBank as lucrative investments swell in value

Japanese telecommunications and technology conglomerate Softbank Group Corp. reported Monday a whopping 1.17 trillion yen (USD 11 billion) profit for the October-December quarter as its investments rose in value.

SoftBank’s profits were far better than what analysts had expected, zooming up 21-fold from the 55 billion yen profit recorded the previous year.