World Economy

SoftBank Profits Up

SoftBank Profits UpSoftBank Profits Up

SoftBank Group Corp. operating profit rose as the mobile carrier and Internet investment company boosted Japanese wireless subscribers, offsetting losses at its Sprint Corp. unit in the US, Bloomberg reported. The company founded by billionaire Masayoshi Son had operating income of ¥342.2 billion ($2.8 billion) in the three months to September, it said Wednesday. That compares with the ¥336.3 billion average of five estimates compiled by Bloomberg. Son said he expects SoftBank to book a one-time charge of between $1 billion and $1.2 billion for restructuring Sprint as early as in the second fiscal half.