Internet investor Softbank Corp. on Tuesday posted consolidated net losses of 54.32 billion yen for the first half of the business year, compared with consolidated net profits of 36.31 billion yen in the same period last year.
Softbank officials attributed the decline to the devaluation of the company's stockholdings.
For the April-September period, Softbank posted consolidated pretax losses of 16.15 billion yen, down from consolidated pretax profits of 1.04 billion yen a year earlier.
It also incurred consolidated operating losses of 8.7 billion yen, compared with consolidated operating profits of 4.7 billion yen the previous year.
However, group sales increased 1.7 percent from a year earlier to 183.37 billion yen.
The company did not disclose its earnings projections for the full year.