Sprint a drag on SoftBank profit

Tokyo

SOFTBANK Corp is forecasting its first profit drop in nine years as billionaire Masayoshi Son's goal of creating the world's largest wireless carrier stalls on losses at Sprint Corp. Operating profit will be about 900 billion yen (S$10.2 billion) in the year ending March, SoftBank said on Tuesday.

That's 10 per cent below its previous forecast and compares with 1.09 trillion yen reported a year earlier. The shares fell the most in a month.