SoftBank’s operating profit jumps on OYO and Uber valuation gains

SoftBank, which is one of the biggest start-up investors in the country, observed its operating profit for the year ended March raised by valuation gains from its investments in companies such as Indian hotel chain OYO and ride-hailing giant Uber.

The Japanese conglomerate’s full-year operating profit climbed 80.5 per cent due to the rising valuations of its tech investments. Its operating profit was 2.4 trillion yen ($21.84 billion) in the financial year ended March.

Masayoshi Son-led SoftBank’s Vision Fund has over $100 billion in committed capital for tech investments. SoftBank said the value of Vision Fund’s investments in 69 firms had increased to $72.3 billion by end-March, from their $60.1 billion acquisition cost, driven by gains at companies like OYO and Uber.