SoftBank unexpectedly ended the quarter with a loss of $5.9 billion
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Japanese telecommunications company SoftBank Group completed third quarter of the fiscal year (October-December 2022) with a net loss of $5.92 billion. Moreover, SoftBank’s negative balance sheet for the quarter came as a surprise to investors and analysts who had forecast a profit of $1.55 billion for the company.
For several years now, the performance of the entire SoftBank holding has been largely dependent on the results of its two funds, Vision Fund 1 and Vision Fund 2, which invest in technology companies. And the stock prices of the latter fell significantly last year. As a result, according to the results of the third quarter of Softbank’s fiscal year, the net loss of funds amounted to $5.52 billion.
In general, the assets of Vision Fund 1 are now valued at $19.9 billion, while SoftBank invested $31.4 billion in them at the time. The volume of investments through Vision Fund 2 has already reached $48.3 billion, while losses from them have reached $17.6 billion
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