Japan’s SoftBank Group reported a sharp jump in profit for the fiscal year through March, citing gains from its technology investments—especially in artificial intelligence—alongside revenue growth. The Tokyo-based company said it earned annual profit of 5 trillion yen (about $32 billion), compared with 1.15 trillion yen the previous year, as its portfolio of bets increasingly tracked the pace of AI-led valuations. SoftBank also said sales climbed nearly 8% year-on-year to nearly 7.8 trillion yen (about $50 billion) from 7.2 trillion yen.
The company pointed to its investment in OpenAI as one of its most lucrative positions. SoftBank said it has invested $34.6 billion in OpenAI and recorded gains of $45 billion, a figure it presented as part of the broader profit picture for the fiscal year.
SoftBank’s reported results also reflected how its holdings can move in different directions across sectors. The company said it invests in U.S. AI company Nvidia, German mobile and internet provider Deutsche Telekom, and British semiconductor maker Arm. It also said it is behind the humanoid robot Pepper, part of a portfolio described as spanning a range of technology and communications businesses.
In addition to AI-related investments, SoftBank attributed another positive factor to the initial public offering of PayPay, the Japan-based mobile-payment app that uses QR codes for cashless payments. SoftBank said the IPO provided an added lift, reinforcing its strategy of holding stakes that can benefit from public-market milestones.
SoftBank said the gains and losses across its holdings were mixed, describing a pattern typical for the company. It said gains from holdings in Intel Corp. offset declines from those in Alibaba, with its technology investment approach stretching beyond AI alone and through different industries and regions.
SoftBank Group’s reporting also highlighted the scale and history of its investment approach. Founded more than four decades ago by Masayoshi Son, the company is led by Son, who also serves as chief executive and chairman. SoftBank said it does not provide earnings forecasts, and it has described its investments as overseen through what it calls Vision Funds.