SoftBank reveals competitive Q3 results
31 October 2013 |
Japan’s SoftBank today reported a net income of 156.7 billion yen ($1.6 billion) between July and September this year.
The strong financial results, although not as high as the previous quarter, put SoftBank nearly 100 billion yen ahead of rival NTT DoCoMo’s combined Q2 and Q3 profit.
SoftBank has been pushing forward with acquisitions this year and could soon be named Japan’s most profitable telecoms group, ahead of NTT DoCoMo and KDDI, according to the Financial Times.
SoftBank completed its acquisition of Sprint in July this year, and acquired US mobile phone distributor Brightstar in October. It also teamed up with GungHo Entertainment to buy Finnish mobile gaming firm Supercell.
Analysts in Japan are keen to see how Masayoshi Son, founder and CEO at SoftBank, manages his growing portfolio of businesses, noting that “his track record is a very strong one”.
Before the financial results were revealed today, SoftBank shares closed up 2.6% at 1,759 yen.
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