( ) -q-24- UNDATED (Correspondent Jeremy House) “the investment losses.” Japanese technology investor SoftBank Group is reporting a loss of 970 billion yen for the fiscal year that just ended. [CutID: <Cuts> JAPAN-SOFTBANK-house-q-THUam.mp3 Time: 24s Title: JAPAN-SOFTBANK-house-q-THUam Out-cue: the investment losses] TAG: Correspondent Jeremy House reporting. SoftBank invests in a sprawling array of companies, including […]
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Japan tech investor SoftBank sinks into second year of losses
( ) -q-24- UNDATED (Correspondent Jeremy House) “the investment losses.”
Japanese technology investor SoftBank Group is reporting a loss of 970 billion yen for the fiscal year that just ended.
[CutID: <Cuts> JAPAN-SOFTBANK-house-q-THUam.mp3
Time: 24s
Title: JAPAN-SOFTBANK-house-q-THUam
Out-cue: the investment losses]
TAG: Correspondent Jeremy House reporting. SoftBank invests in a sprawling array of companies, including Uber, DoorDash, T-Mobile and Arm.
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VERBATIM: That’s the second year in a row of red ink. Tokyo-based SoftBank had racked up a 1.7-trillion-yen loss the previous fiscal year. The latest results came from massive losses on its investments, called the SoftBank Vision Fund, amid a global plunge in technology shares. The gains from transactions in Chinese e-commerce giant Alibaba were not enough to offset the investment losses.