Japan's Softbank Group reported a second-quarter profit jump on Monday thanks to higher valuations of its high-tech investments as doubts about the group's dependence on Saudi finance are mounting.

 

The group's July-September earnings rose to 705.7 billion yen ($ 6.23 billion) from 395.6 billion yen a year earlier. Last year's figures were based on old accounting standards.

 

Softbank and its fund are seeing a vision backed by Saudi Arabia, which has become the world's largest direct investment fund after raising more than $ 93 billion last year, to grow their technology investments, such as Uber Technologies 'taxi applications and General Motors' self-driving unit.

 

But Softbank's relationship with Saudi Arabia has become a concern for investors after the killing of Saudi journalist Jamal Khashoggi.