TOKYO: Japan's SoftBank Group Corp is expected to report a small rise in its fourth-quarter profit, while investors look for details on whether the conglomerate plans to monetize its almost US$100 billion Vision Fund through an IPO.
SoftBank is expected to post on Thursday a 1 percent rise in operating profit to 156 billion yen for the three months ended March, an average estimate of three analysts polled by Refinitiv shows. SoftBank has not provided a forecast and moved to new accounting standards this financial year. The lower valuation comes after rival Lyft Inc's poor stock performance after its market debut. That reflects investor scepticism over Lyft's path to profitability, with peers likes Uber and WeWork also heavily losing money.
Last week, a newly created Latin America-focused fund under SoftBank Group COO Marcelo Claure made its first move after SoftBank announced a US$1 billion investment in Colombian delivery app Rappi.SoftBank Group's domestic telco reports its financial results a day ahead of its parent. Three analysts on average see a weak end to SoftBank Corp's year, with operating profit set to fall 11 percent to 94 billion yen.
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