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The Independent UK
The Independent UK
National
Yuri Kageyama

Japanese tech company SoftBank Group sees profit drop despite AI investments

SoftBank SoftBank Group Japan Masayoshi Son
Japan Earns SoftBank - (Copyright 2022 The Associated Press. All rights reserved)

Technology investor SoftBank Group Corp. reported Thursday an 18% drop in fiscal first quarter profit, as higher costs offset its investment gains.

SoftBank Group, which invests aggressively in artificial intelligence, energy and robotics, recorded a 347.3 billion yen ($2.2 billion) profit for the April-June period, down from 421.8 billion yen a year earlier.

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