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GET DAILY SIGNALSSoftbank Group (SFTBF, $39.40) posted annual net loss of -1.7 trillion yen
Softbank Group (SFTBF, $39.40) posted annual net loss of -1.7 trillion yen
Softbank Group Corp reported a net loss of -1.7 trillion yen (-$13.12 billion) for the year ended in March, compared to the record 4.99 trillion yen profit a year earlier. A year ago, the company got a boost from the listing of South Korean ecommerce firm Coupang, when SoftBank's earnings exceeded that of several global major companies such as Berkshire Hathaway.
SoftBank's Vision Fund segment incurred a -2.97 trillion yen investment loss in the first quarter, according to Reuters calculations.
Its mobile unit SoftBank Corp. experienced a record net profit of 517.5 billion yen, thanks to strength in online shopping, advertisement and messaging app services.
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