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SoftBank CEO taps future successor in Nikesh Arora

2015-05-11 12:06:51| IT Services - Topix.net

SoftBank Corp. chief executive Masayoshi Son anointed the head of the company's U.S.-based Internet investment arm as a future successor, a possible indication of further expansion abroad following the 2013 takeover of U.S. mobile operator Sprint Corp. Mr. Son said he would appoint Nikesh Arora, a former Google executive who has been heading SoftBank's investment arm in San Carlos, Calif., as representative director and president of SoftBank. The head of the firm made the comments after SoftBank announced its latest earning results showing robust profits that beat the company's forecasts for the year ended March 31, despite the continuing struggles to turn around Sprint.

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Softbank FY profit jumps 32% to JPY 763 bln

2015-05-11 12:02:00| Telecompaper Headlines

(Telecompaper) Japanese operator Softbank reported net profit for the fiscal year to March 2014 up 32.1 percent to JPY 763.6 billion. Revenues jumped by 30.1 percent to JPY 8.670 trillion, while operating profit declined by 8.8 percent to JPY 982.7 billion. Net sales growth was mainly boosted by the mobile communications segment and the Sprint unit in the US.

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SoftBank posts 9pc drop in full-year profit, skips forecast

2015-05-11 11:31:35| Telecom - Topix.net

SoftBank Corp reported on Monday a 9 percent fall in profit for the fiscal year just ended, hurt by the absence of one-time gains enjoyed the year before, while it has been weighed down by the costs of trying to turn around U.S. unit Sprint. The Japanese telecommunications company said it had an operating profit of 982.7 billion yen in the year ended March 31, versus 1.08 trillion yen in the prior year.

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