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SoftBank’s investment fund reports record high loss
By Shubhangi Mathur - Aug 08, 2022, 03:08 PM ET
Last Updated - Mar 13, 2024, 11:18 AM EDT
SoftBank Group Corp reported its one of the biggest losses at its investment fund—Vision Fund—for the first quarter
SoftBank Group Corp reported its one of the biggest losses at its investment fund—Vision Fund—for the first quarter.
Vision Fund posted its second-largest quarterly loss of 2.93 trillion Japanese yen ($21.68 billion) in the quarter.
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SoftBank also posted record net loss of 3.16 trillion yen, compared to 761.5 billion yen profit in the same period last year.
The company also announced share buyback of program of 400 billion yen on Monday.
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Vision Fund posted record loss in the quarter due to slump in technology stocks amid soaring inflation.
Picture Credits: Getty Images
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