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Japan's SoftBank reports 8.8% rise in full-year profit, skips forecast

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Japan's SoftBank Group Corp on Tuesday said operating profit rose 8.8 per cent in the fiscal year ended March 31, due to robust domestic operations and cost cuts at US subsidiary Sprint Corp.

[TOKYO] Japan's SoftBank Group Corp on Tuesday said operating profit rose 8.8 per cent in the fiscal year ended March 31, due to robust domestic operations and cost cuts at US subsidiary Sprint Corp.

The telecoms conglomerate reported profit of 999.5 billion yen (S$12.6 billion) from 918.7 billion yen posted the year prior. The result compared with the 1.065 trillion yen average of 21 analyst estimates compiled by Thomson Reuters.

SoftBank did not release a forecast for the current business year, saying there were too many uncertain factors.

REUTERS