Latest News

The Wall Street Journal: SoftBank reports $13 billion annual loss after tech stock slide


TOKYO—Japanese technology investor SoftBank Group Corp. on Thursday reported the biggest annual loss in its four-decade history because of the global selloff in technology shares.

known for its $100 billion Vision Fund, reported a net loss of ¥1.71 trillion, equivalent to $13.2 billion, for the year that ended March 31. That was its biggest full-year loss, topping a record set two years ago, and followed a nearly ¥5 trillion net profit the previous fiscal year.

The company’s results tend to swing widely because they follow the volatile movements of the technology shares in which SoftBank has invested, including U.S. companies such as Uber Technologies Inc. and DoorDash Inc.

Interest-rate increases by the Federal Reserve and other central banks, as well as tighter Chinese government regulations on the tech industry, have weighed on valuations of high-growth tech stocks.

An expanded version of this story is available at

Crypto: Bitcoin struggles to hold onto $27,000 as Tether comes under pressure

Previous article

Next Avenue: Can you do math and yoga at the same time? Juggle while spelling long words? Here’s why it could be important.

Next article

You may also like


Leave a reply

Your email address will not be published.

More in Latest News