SoftBank Group logs loss but Vision Fund unit returns to profit
SoftBank Group logs loss but Vision Fund unit returns to profit
The Vision Fund unit booked an investment gain of about 160 billion yen ($1.1 billion) for the April-June quarter.
Japan’s SoftBank Group reported a surprise loss but saw its Vision Fund unit return to the black for the first time in six quarters, helped by an increased valuation for Arm, the chip designer slated for an initial public offering later this year.
The Vision Fund unit booked an investment gain of about 160 billion yen ($1.1 billion) for the April-June. Without the fillip from Arm, the picture was less rosy with the company’s Vision Funds reporting a combined loss of 13 billion yen.
Overall, SoftBank reported a third consecutive quarterly loss, hit by declines in valuations for major investments such Alibaba Group, Deutsche Telekom, and T-Mobile U.S..
Japan’s SoftBank Group reported a surprise loss but saw its Vision Fund unit return to the black for the first time in six quarters, helped by an increased valuation for Arm, the chip designer slated for an initial public offering later this year.
The Vision Fund unit booked an investment gain of about 160 billion yen ($1.1 billion) for the April-June. Without the fillip from Arm, the picture was less rosy with the company’s Vision Funds reporting a combined loss of 13 billion yen.
Overall, SoftBank reported a third consecutive quarterly loss, hit by declines in valuations for major investments such Alibaba Group, Deutsche Telekom, and T-Mobile U.S..
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