Losses at SoftBank’s Vision Fund drove the value of the fund’s assets $5.4 billion below what they cost to acquire
TOKYO—SoftBank Group Corp. recorded a net loss of $9 billion for the fiscal year ended in March, the worst results in its nearly four-decade history, as huge losses at its $100 billion Vision Fund and other investments threw into question its aggressive strategy of funding technology startups.
SoftBank said the Vision Fund and other funds it manages recorded an investment loss of ¥1.8 trillion in the fiscal year, including more than ¥1.1 trillion during the January-March quarter alone as the coronavirus pandemic...
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