SoftBank Quarterly Profit Beats Expectations, Chip Investment Gains Boost Results

Odaily News: Japan's SoftBank Group reported a smaller-than-expected decline in quarterly net profit, bolstered by gains in its chip-related investment portfolio, while the company continues to await further returns from its investment in OpenAI. The Tokyo-based technology investment firm posted an 18% drop in first-quarter net profit to 347.3 billion yen (approximately $2.2 billion), as unrealized gains from its investments in chip manufacturers offset the impact of declining valuations in startup companies. In comparison, the market had expected net profit of around 166 billion yen. (Jin Shi)