SoftBank Group's April-Dec. net profit jumps to 3.06 tril. yen

©Kyodo News

SoftBank Group Corp. on Monday reported that its net profit in the April-December period climbed over sixfold from a year earlier to 3.06 trillion yen ($29 billion) due to a sharp increase in the stock valuation of tech companies in which it has invested.

The surge was boosted by the robust recovery of stock markets around the world despite the prolonged novel coronavirus pandemic, in a turnaround from a 69.0 percent fall a year earlier due to failed investments in We Co., operator of U.S. shared workplace provider WeWork.

In the nine months through Dec. 31, the Japanese investment conglomerate said its sales totaled 4.14 trillion yen, up 6.1 percent from a year earlier.

SoftBank Group did not provide earnings on an operating basis or a full-year outlook.