SoftBank Group narrows Q1 loss as Vision Fund rebounds

Nikkei -- Aug 08

SoftBank Group on Tuesday announced a net loss of 477 billion yen ($3.3 billion), in the three months ending June, slicing its loss by 85%, year-on-year, thanks to an improving valuation for its flagship Vision Fund, as technology stocks rebound.

According to the company's financial statement, pretax profit from the Vision Fund, which includes the Latin America Fund, was 61 billion yen for the quarter, partially reversing a loss of 2.33 trillion yen, last year. However the Japanese investment giant suffered from foreign exchange losses, with the weak yen inflating the value of its dollar-denominated debt. ...continue reading