- SoftBank posted one of its biggest losses at its Vision Fund investment unit for its fiscal first quarter, as technology stocks continue to get hammered amid rising interest rates.
- The Japanese giant’s Vision Fund posted a 2.93 trillion Japanese yen ($21.68 billion) loss for the June quarter. This is the second-largest quarterly loss for the Vision Fund.
SoftBank posted one of its biggest losses at its Vision Fund investment unit for its fiscal first quarter, as technology stocks continue to get hammered amid rising interest rates.
The Japanese giant’s Vision Fund posted a 2.93 trillion Japanese yen ($21.68 billion) loss for the June quarter. This is the second-largest quarterly loss for the Vision Fund.
That contributed to a 3.16 trillion yen net loss for the quarter for SoftBank versus a 761.5 billion yen profit in the same period last year. That is a record quarterly loss for the company.
The company also authorized a 400 billion yen share buyback program on Monday.
www.cnbc.com/2022/08/08/softbank-vision-fund-posts-a-21point6-billion-quarterly-loss-.html
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