SoftBank targets $980 million profit from US business

17 June 2014 | Kavit Majithia


Japanese operator SoftBank is targeting operating profits of approximately ¥100 billion ($980 million) from its US business this fiscal year.

SoftBank is attempting to return to the black after completing its acquisition of a majority stake in US operator Sprint last year.

According to local Japanese news sources, the company is attempting to implement a number of restructuring measures to help recover subscribers and improve Sprint’s position.

Sprint registered a ¥1.2 billion operating loss in the last fiscal year, according to reports in Japan.

The company is reportedly still in talks with T-Mobile US over a possible merger.