Son Zhengyi's Softbank Group has invested in China's e-commerce giant Alibaba, Yahoo Japan shopping site Yahoo! Japan Shopping, sports e-commerce company Fanatics, and Indian e-commerce giant Flipkart.
Son Zhengyi said at a conference call: 'E-commerce is a business model and it has become a basic business model in today's business society. Amazon is still losing money on e-commerce.'
Last week, Amazon released third-quarter earnings results for the third quarter of this year, showing a net loss of $ 936 million for its international e-commerce business.
Son Zhengyi said he is most concerned about the continuous growth of enterprise user base and market share. In the Asian market, several Amazon rival companies invested by Softbank Group have been very successful.
Son Masayoshi said Yahoo Japan shopping site Yahoo! Japan Shopping is currently Japan's largest e-commerce site, which has more than 290 million products on its platform; Indian e-commerce giant Flipkart occupy 60% of the Indian e-commerce market share; and Alibaba, Last year's net income growth rate reached an astonishing 61% .He added: 'The actual trading volume of e-commerce companies invested by Softbank Group is much larger than Amazon, the total volume of business transactions is almost equivalent to Alibaba, may even be more than Ali More than Baba, so overall, this is definitely the number one place.
This week, Softbank announced the company's second-quarter earnings this year, which showed its net profit reached 395.6 billion yen (about 3.5 billion US dollars), compared with 328.1 billion yen last year, net profit increased. However, Also on Monday, Softbank shares in the Tokyo Stock Exchange fell 2.6%.