SFTBY - SoftBank reports record annual profit driven by Coupang DoorDash investments

SoftBank ([[SFTBF]],[[SFTBY]]) reports annual results with net income of ¥4.99 trillion ($45.9 billion), a record for both SoftBank and Japanese companies. Profit in the March quarter was a record ¥1.93 trillion.The key driver was the ¥6.29 trillion annual investment gain at the company's first Vision Fund, including the 40% stake in South Korean e-commerce giant Coupang, the DoorDash stake, and the sale of its Sprint controlling stake last year.SoftBank is using the strong footing to triple its investment in Vision Fund 2 to $30B. The fund initially struggled out of the gate due to a lack of interest from outside investors.Earnings press release.

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SoftBank reports record annual profit driven by Coupang, DoorDash investments