{"id":799412,"date":"2022-08-08T09:52:25","date_gmt":"2022-08-08T09:52:25","guid":{"rendered":"https:\/\/telecomlive.in\/web\/2022\/08\/08\/softbank-posts-17-billion-vision-fund-loss-in-first-quarter\/"},"modified":"2022-08-08T09:52:25","modified_gmt":"2022-08-08T09:52:25","slug":"softbank-posts-17-billion-vision-fund-loss-in-first-quarter","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2022\/08\/08\/softbank-posts-17-billion-vision-fund-loss-in-first-quarter\/","title":{"rendered":"SoftBank posts $17 billion Vision Fund loss in first quarter"},"content":{"rendered":"<p>SoftBank Group Corp on Monday posted a 2.33 trillion yen ($17.23 billion) loss at its Vision Fund unit in the April-June quarter as the value of its tech portfolio slid.<\/p>\n<p>SoftBank had booked a record loss at the Vision Fund unit in May as market turmoil driven by rising interest rates and political instability hit the tech investor.<\/p>\n<p>The group&#8217;s sliding portfolio pushed it to a 3.16 trillion yen net loss in the latest quarter. That compared with profit of 761.5 billion yen in the same period a year earlier.<\/p>\n<p>SoftBank founder and CEO Masayoshi Son, who will speak at an earnings briefing from 4:30 p.m. (0730 GMT), has pledged to tighten investing criteria and preserve cash to weather the downturn.<\/p>\n<p>In the quarter ended June, falling listed investments included robotics firm AutoStore Holdings Ltd, artificial intelligence firm SenseTime Group Inc and ridehailer Uber Technologies Inc.<\/p>\n<p>Plunging initial public offering volumes and market scepticism towards money-losing startups have squeezed an important source of capital for SoftBank, which hopes to list chip designer Arm following the collapse of a sale to Nvidia.<\/p>\n<p>The sell-off has hit hedge fund Tiger Global, which competes with &#8220;unicorn hunter&#8221; Son on deals and saw its flagship fund fall 50% in the first half of the year after it underestimated the impact of surging inflation on markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SoftBank Group Corp on Monday posted a 2.33 trillion yen ($17.23 billion) loss at its Vision Fund unit in the April-June quarter as the value of its tech portfolio slid. SoftBank had booked a record loss at the Vision Fund unit in May as market turmoil driven by rising interest rates and political instability hit the tech investor. The group&#8217;s sliding portfolio pushed it to a 3.16 trillion yen net loss in the latest quarter. That compared with profit of 761.5 billion yen in the same period a year earlier. SoftBank founder and CEO Masayoshi Son, who will speak at [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-799412","post","type-post","status-publish","format-standard","hentry","category-it-2"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/799412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=799412"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/799412\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=799412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=799412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=799412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}