SoftBank Group has laid out plans to get more aggressive in artificial intelligence and other fields, after reporting a second quarter of profit and a surge in the value of assets, including Arm Holdings.
The Tokyo-based company earned a better-than-expected net income in the March quarter, helped by investment gains at the holding company and on derivative contracts. A surge in Arm’s stock since its initial public offering last year helped lift SoftBank’s net asset value to a record ¥27.8 trillion ($178 billion), almost double the total a year earlier.
That gives the company the financial wherewithal to go after new strategic investments, said SoftBank Chief Financial Officer Yoshimitsu Goto.