Japan's SoftBank Group Corp is expected to report a small rise in its fourt...
TOKYO - Japan’s SoftBank Group Corp is expected to report a small rise in its fourth-quarter profit, while investors look for details on whether the conglomerate plans to monetize its almost $100 billion Vision Fund through an IPO.
Following the listing of the group’s domestic telco SoftBank Corp in December, the Vision Fund is the largest segment in SoftBank’s earnings without a market valuation. The results come at a potential inflection point for the group and the Vision Fund as portfolio companies like Uber Technologies and the owner of WeWork, The We Company, prepare to list, putting a price tag on some of the conglomerate’s largest bets on unlisted startups.
The lower valuation comes after rival Lyft Inc’s poor stock performance after its market debut. That reflects investor scepticism over Lyft’s path to profitability, with peers likes Uber and WeWork also heavily losing money. SoftBank’s rapidly growing investments continue to cause investor headaches in valuing the business, while also raising concerns about returns and SoftBank’s indebtedness.
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