SoftBank Sinks Deeper in Losses Despite $1.1bn Gain from Vision Fund

The Japanese tech conglomerate posted its third straight quarter of losses, despite cashing in on the tech comeback.

• SoftBank, the Japanese tech investor owned by legendary risk-taker Masayoshi Son, posted a third losing quarter in a row. For the three months ended June, the firm reported a net loss of 477.6bn yen, or $3.3bn, which was a tiny blip compared to the same period last year when SoftBank got bulldozed by a $22bn loss.
• The venture-capital giant’s flagship investment vehicle, Vision Fund, managed to float to the black with a quarterly gain of 159.8bn yen, or $1.1bn. Enough for the unit to catch a breath of fresh air after a gigantic loss of $32bn for the 12 months ended March.
• The recent quarterly figures of SoftBank 9984 in Tokyo) don’t exactly line up with Masayoshi Son’s pep talk in June. Back then, the loss-taker pledged to go on the counteroffensive and ride the AI-boosted recovery in the technology space. On the bright side, the Vision Fund made money for the first time in five quarters.