TOKYO, Feb. 6 (Xinhua) -- SoftBank Group Corp. said Wednesday its group net profit increased 51.6 percent in the April-December period owing to gains from investments through its Saudi-backed Vision Fund, which helped offset market losses connected to U.S. chipmaker Nvidia.
The Tokyo-based conglomerate said its group net profit in the recording period came in at 1.54 trillion yen (14.04 billion U.S. dollars), with the rise attributed to gains made by tech firms invested in by its Vision Fund.
At the end of the October-December period, the Vision Fund had invested 45.5 billion U.S. dollars in 49 firms, including ride-hailing startups and a shared workspace provider, with the investments valued at 55.3 billion U.S. dollars, according to SoftBank Group's figures.
Losses made by Nvidia owing to slumping demand for gaming chips, were offset by the firm's other fund managed operations, SoftBank Group said.
