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published in Blogs
May 15, 2022
Softbank 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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