SoftBank (SFTBY) is expected to report surging profit growth Wednesday as the Japanese telecom-to-internet group enjoys boosts from a newly acquired chip unit as well as a turnaround in its U.S. wireless unit.

Tokyo-based SoftBank is scheduled to release third quarter results after the market closes in Japan on Feb. 8, with a consensus of 18 analysts compiled by FactSet expecting net profit to soar to ¥132.2 billion ($1.2 billion) from ¥2.29 billion despite a revenue drop to ¥2.31 trillion from ¥2.39 trillion for the three months ending in December. Operating profit is expected jump to ¥271.7 billion from ¥189.6 billion.

The highlight of the quarter will be the degree of contribution SoftBank will enjoy from newly acquired ARMHoldings, a U.K.-based chip designer. With the deal closing on Sept. 5, it will be the first full quarter reflecting the £24.3 billion ($30.3 billion) purchase, which CEO Masayoshi Son said was aimed at riding on the wave of the Internet of Things. ARM's expertise is adopted in 95% of smartphones worldwide, as well as in networking infrastructure, automobiles, consumer electronics, among other products.

SoftBank should also enjoy contributions from U.S. wireless carrier Sprint (S) - Get Report . While the Overland Park, Kan.-based subsidiary has remained more or less in the red since Softbank's acquisition in 2013, it said last week earnings at the operating level moved into the black from a year ago in the quarter through December, while net losses narrowed by nearly half.

Son paid a visit to U.S. President Donald Trump in December and promised he would invest $50 billion in the U.S. towards businesses and create 50,000 new jobs. The visit, made only a few weeks after Trump's victory in the November presidential election, was largely perceived as a move to gain favor with the new administration in the U.S. where Sprint's efforts to merge with T-MobileUSA (TMUS) - Get Report has been hindered due to the Obama administration's resistance.

Focus will remain on SoftBank's debt, which has mounted over the years due to active investments. Net debt/Ebitda ratio stood at 4.0 times as of September, down from 6.2 times in 2006 following SoftBank's acquisition of Vodafone's Japanese unit but up from 3.8 times in March 2016.

As part of its efforts to reduce debt, SoftBank in October announced a $100 billion tech fund in partnership with the Public Investment Fund of Saudi Arabia, a move aimed at curbing debt within SoftBank. Son has said he wants to make SoftBank into the Berkshire Hathaway of the technology sector.

SoftBank also invests in YahooJapan, ride-sharing companies such as DidiChuxing, Grab and Ola, e-commerce companies such as Alibaba (BABA) - Get Report and Oyo, and artificial intelligence companies such as CloudMinds.

SoftBank shares closed at ¥8,653 each in Tokyo Monday, up 1.4% on the session and extending their three-month gain to 39%.