Tokyo — Masayoshi Son is launching a new asset management venture to buy stocks in publicly traded companies, expanding SoftBank Group’s investment efforts as it rebounded from record losses to profitability.

The Tokyo-based company reported net income of ¥1.26-trillion for the three months ended June 30, following a loss of ¥1.44-trillion  three months earlier. The profit was boosted by more than ¥1-trillion  in one-time gains from the sale of Sprint and shares in T-Mobile US...

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