Malaysia's Maybank backs biofuel, medical projects in Johor special zone
Maybank is among the six regional and international banks that signed a letter of interest (LOI) with Iskandar Regional Development Authority to facilitate investments in the Johor-Singapore Special Economic Zone (JS-SEZ).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Japan Today
2 days ago
- Japan Today
SoftBank Group sees better fortunes on surging AI stocks
The logo of Japanese mobile provider SoftBank is seen at its shop in Tokyo. By Yuri Kageyama Japanese technology conglomerate SoftBank Group Corp. posted a 421.8 billion yen ($2.9 billion) profit in the April-June quarter, rebounding from a loss a year earlier as its investments benefited from the craze for artificial intelligence. Quarterly sales at Tokyo-based SoftBank Group, which invests heavily in AI companies like Nvidia and Open AI, rose 7% to 1.8 trillion yen ($12 billion), the company said Thursday. SoftBank's loss in April-June 2024 was 174 billion yen. The company's fortunes tend to fluctuate because it invests in a range of ventures through its Vision Funds, a move that carries risks. The group's founder Masayoshi Son has emphasized that he sees a vibrant future in AI. SoftBank has also invested in Arm Holdings and Taiwan Semiconductor Manufacturing Co. Both companies, which produce computer chips, have benefitted from the growth of AI. 'The era is definitely AI, and we are focused on AI,' SoftBank senior executive Yoshimitsu Goto told reporters. 'An investment company goes through its ups and downs, but we are recently seeing steady growth.' Some of SoftBank's other investments also have paid off big. An example is Coupang, an e-commerce company known as the 'Amazon of South Korea,' because it started out in Seoul. Coupang now operates in the U.S. and other Asian nations. Goto said preparations for an IPO for PayPay, a kind of cashless payment system, were going well. The company has already held IPOs for Chime, a U.S. 'neobank' that provides banking services for low-credit consumers, and for Etoro, a personal investment platform. SoftBank Group stock, which has risen from a year ago, finished 1.3% higher on the Tokyo Stock Exchange after its earnings results were announced. © 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
The Mainichi
2 days ago
- The Mainichi
Sony Group lifts FY 2025 net profit outlook on eased tariff concerns
TOKYO (Kyodo) -- Sony Group Corp. said Thursday it has raised its net profit forecast for the fiscal year through March to 970 billion yen ($6.57 billion), up 4 percent from an earlier projection, after reassessing the impact of higher U.S. tariffs. The Japanese tech and entertainment conglomerate lifted its operating profit forecast to 1.33 trillion yen, up 4 percent from the previous estimate in May, while leaving its sales outlook unchanged at 11.7 trillion yen. Sony Group revised the projected impact of the U.S. trade measures, imposed under U.S. President Donald Trump, on its operating profit to 70 billion yen, down from 100 billion yen forecast in mid-May. After Trump implemented "reciprocal" tariffs with a baseline duty of 10 percent for nearly all countries in April, fears had been growing that Japan could face the imposition of additional duties that would more than double the level. But last month, the Japanese government said it had agreed with the United States to set the rate at 15 percent. "The situation surrounding the additional U.S. tariffs is still fluid, and we intend to continue to monitor it and take action to minimize its impact," the Tokyo-based company said in a release. For the three months ended June, Sony Group's net profit rose 23.3 percent from a year earlier to 259.03 billion yen. Operating profit climbed 36.5 percent to 339.96 billion yen, while sales increased 2.2 percent to 2.62 trillion yen. The earnings report excludes the group's financial services business, which is set to be spun off in October.
Asahi Shimbun
2 days ago
- Asahi Shimbun
Japan tech giant SoftBank Group sees better fortunes on surging AI stocks
The logo of Japanese mobile provider SoftBank is seen at its shop in Tokyo on June 14, 2018. (AP Photo) Japanese technology conglomerate SoftBank Group Corp. posted a 421.8 billion yen ($2.9 billion) profit in the April-June quarter, rebounding from a loss a year earlier as its investments benefited from the craze for artificial intelligence. Quarterly sales at Tokyo-based SoftBank Group, which invests heavily in AI companies like Nvidia and Open AI, rose 7% to 1.8 trillion yen ($12 billion), the company said Thursday. SoftBank's loss in April-June 2024 was 174 billion yen. The company's fortunes tend to fluctuate because it invests in a range of ventures through its Vision Funds, a move that carries risks. The group's founder Masayoshi Son has emphasized that he sees a vibrant future in AI. SoftBank has also invested in Arm Holdings and Taiwan Semiconductor Manufacturing Co. Both companies, which produce computer chips, have benefitted from the growth of AI. 'The era is definitely AI, and we are focused on AI,' SoftBank senior executive Yoshimitsu Goto he told reporters. 'An investment company goes through its ups and downs, but we are recently seeing steady growth.' Some of SoftBank's other investments also have paid off big. An example is Coupang, an e-commerce company known as the 'Amazon of South Korea,' because it started out in Seoul. Coupang now operates in the U.S. and other Asian nations. Goto said preparations for an IPO for PayPay, a kind of cashless payment system, were going well. The company has already held IPOs for Chime, a U.S. 'neobank' that provides banking services for low-credit consumers, and for Etoro, a personal investment platform.
