SoftBank Group Corp. said Tuesday its net profit rose 11.9 percent to 1.26 trillion yen ($12 billion) in the April-June period, helped by the selling of assets to improve its finances following disastrous losses by its tech-focused investment fund.

In the first quarter of fiscal 2020, SoftBank Group's sales were down 2.0 percent from a year ago to 1.45 trillion yen.

SoftBank, which posted a record net loss for the previous business year that ended in March, has pledged to sell up to 4.5 trillion yen worth of assets to improve its financial standing.

==Kyodo

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