Arm profits fall 99pc despite huge gains by Japanese owner Softbank

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Profits at Cambridge headquartered chip company Arm sank 99pc, while its parent company, Japanese tech conglomerate Softbank, saw its profits jump thanks to gains from its $100bn (£77bn) technology investment fund

Once a telecommunications and smartphone giant, Softbank has undergone a transformation under chief executive Masayoshi Son, turning the corporate into an investment giant. 

Softbank’s operating profit increased to 715 billion yen ($6.4 billion), up 49pc. Its gains were driven by the increase in value of its stake in Indian Amazon-rival Flipkart and from the sale of its stake in British chip company Arm’s Chinese business.

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