TOKYO (AP) — Japanese technology company SoftBank Group Corp. says its quarterly profit fell but says its fortunes will change dramatically if reported deals come through.

SoftBank plans to give up some of its stake in U.S. wireless company Sprint, under a $26.5 billion merger deal that will combine it with T-Mobile. The deal still requires U.S. regulatory approval.

Speculation is rife SoftBank plans to sell some of its stake in Indian e-commerce company Flipkart to U.S. retailer giant Walmart.

Tokyo-based SoftBank reported Wednesday January-March its profit totaled 24 billion yen ($219 million), down from 580.5 billion yen the previous year.

Quarterly sales totaled 2.35 trillion yen ($21 billion), up 1 percent from 2.32 trillion yen.

SoftBank's sprawling empire encompasses telecommunications, financial-technology, solar energy, ride-booking services and the Pepper companion robot.