Money & Banking

SoftBank’s internet business to invest $4.7 bn in tech over five years

Reuters Tokyo | Updated on March 01, 2021

SoftBank’s internet arm Z Holdings is targeting sales of 2 trillion yen and operating income of 225 billion yen by 2023

SoftBank’s internet subsidiary Z Holdings on Monday outlined plans to invest 500 billion yen ($4.7 billion) in technology over five years with a focus on artificial intelligence.

The announcement follows the completion of the merger of its internet business Yahoo Japan with chat app operator Line creating a $30-billion internet heavyweight.

Also read: SoftBank-backed robotics firm Berkshire Grey to go public via $2.7 billion SPAC deal

Z Holdings is targeting sales of 2 trillion yen and operating income of 225 billion yen by 2023, the firm said in a statement.

Published on March 01, 2021

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