Softbank Corp has reported a group net loss of 3.52 billion yen ($33.6m) for the six months ended September 30. The Japanese internet investment house saw its bottom line impacted by one- time losses and weaker-than-anticipated results from US operations. Group sales for the six months dropped 18% to $201.58bn yen ($1.92bn), affected by the sale of the Kingston Technology Co subsidiary. Group pre-tax loss was 11.3bn yen ($107.8m).
Total one-time losses for the period amounted to 86.73bn yen ($827.6m), including a 80.64bn yen ($769.5m) loss from the Kingston sale. A 70.38bn yen ($671.6m) gain on the sale of part of the company’s stake in Trend Micro Inc nearly offset the one- time losses. Softbank said continued poor performance at its Ziff-Davis Inc publishing unit – as well as costs associated with that company’s listing on the New York Stock Exchange also contributed to the net loss.
