Japan's SoftBank is set on making a bigger impact in the USA, seeking stakes in the leading auto sharing services and pushing for consolidation in telecoms and cable.
The Vision Fund contributed 105 billion yen of operating income thanks to an unrealized gain on SoftBank's holdings of shares in Nvidia, the US -listed maker of graphics chips.
SoftBank also has a foothold in the USA market through its wireless unit Sprint, which last week reported a quarterly profit for the first time in three years as a results of cost cutting efforts.More news: United Nations approves new North Korea sanctions over missile tests
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SoftBank Group CEO Masayoshi Son says he's interested in investing in both Uber Technologies and Lyft but hasn't made a decision about which one to favor.
"We are interested in discussing with Uber". However, in a twist, Son said that SoftBank is also considering buying into Uber's arch enemy in the U.S., Lyft, instead. "We haven't decided which way, but [the] U.S.is a very big market - it's [the] most important market - so we are definitely very much interested in the USA market. So we are definitely very much interested in the USA market".
"Whether we decide to partner and invest into Uber or Lyft, I don't know what will be the end result", he told reporters at SoftBank's first-quarter earnings briefing on Monday. It's also invested in several major ride-hailing firms around the world, including Didi Chuxung in China, Grab in Japan, and Ola in India. SoftBank has been considering making a formal takeover bid for the cable company and combining it with Sprint, people familiar with the matter said earlier. "And when that stage comes, this ride share business becomes even more important".