TOKYO: SoftBank said Monday its net profit for the first half of the fiscal year plunged after the previous year’s sale of a game development business, but operating profit surged on brisk sales for its US telecom unit.
The Japanese mobile giant said net profit for the six months to September came in at 102.6 billion yen ($900 million), down 86.6 percent from the same period a year earlier.
The dive in SoftBank’s net profits was mainly because it sold former mobile game subsidiary Supercell Oy and the profits from this unit had inflated last year’s figures, it said.
But operating profit soared 35.1 percent to 874.8 billion yen thanks to a sound performance from its US wireless unit Sprint, the company said.
Sales edged up 3.3 percent to 4.41 trillion yen, it said.
The figures came after Sprint and T-Mobile announced over the weekend they had called off merger talks.
T-Mobile, an affiliate of Germany’s Deutsche Telekom, and Sprint are the third and fourth largest US wireless operators, respectively.
Together the pair would have had 131 million subscribers, virtually matching second-ranked AT&T and posing stiff competition to market leader Verizon Communications.
SoftBank did not release earnings estimates for the fiscal year through March 2018, which is not unusual for the company.
Led by flamboyant founder Masayoshi Son, SoftBank has embarked on a string of international acquisitions both big and small in recent years.
Son was among the first business people to meet Donald Trump after his November election victory, and was also among dozens of Japanese and American business leaders who attended a speech by the visiting US president in Tokyo on Monday.
Son has pledged to invest $50 billion in business and job-creation in the United States, winning praise from the then president-elect.
Shares in Softbank lost 2.59 percent to close at 9,945 yen on Monday, before the earnings report was released.
SoftBank H1 net profit down on one-off factor
SoftBank H1 net profit down on one-off factor
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Silver crosses $77 mark while gold, platinum stretch record highs
- Spot silver touched an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits
- Spot platinum rose 9.8% to $2,437.72 per ounce, while palladium surged 14 percent to $1,927.81, its highest level in over 3 years
Silver breached the $77 mark for the first time on Friday, while gold and platinum hit record highs, buoyed by expectations of US Federal Reserve rate cuts and geopolitical tensions that fueled safe-haven demand.
Spot silver jumped 7.5% to $77.30 per ounce, as of 1:53 p.m. ET (1853 GMT), after touching an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits, its designation as a US critical mineral, and strong investment inflows.
Spot gold was up 1.2% at $4,531.41 per ounce, after hitting a record $4,549.71 earlier. US gold futures for February delivery settled 1.1% higher at $4,552.70.
“Expectations for further Fed easing in 2026, a weak dollar and heightened geopolitical tensions are driving volatility in thin markets. While there is some risk of profit-taking before the year-end, the trend remains strong,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.
Markets are anticipating two rate cuts in 2026, with the first likely around mid-year amid speculation that US President Donald Trump could name a dovish Fed chair, reinforcing expectations for a more accommodative monetary stance.
The US dollar index was on track for a weekly decline, enhancing the appeal of dollar-priced gold for overseas buyers.
On the geopolitical front, the US carried out airstrikes against Daesh militants in northwest Nigeria, Trump said on Thursday.
“$80 in silver is within reach by year-end. For gold, the next objective is $4,686.61, with $5,000 likely in the first half of next year,” Grant added.
Gold remains poised for its strongest annual gain since 1979, underpinned by Fed policy easing, central bank purchases, ETF inflows, and ongoing de-dollarization trends.
On the physical demand side, gold discounts in India widened to their highest in more than six months this week as a relentless price rally curbed retail buying, while discounts in China narrowed sharply from last week’s five-year highs.
Elsewhere, spot platinum rose 9.8% to $2,437.72 per ounce, having earlier hit a record high of $2,454.12 while palladium surged 14% to $1,927.81, its highest level in more than three years.
All precious metals logged weekly gains, with platinum recording its strongest weekly rise on record.
