Salem Radio Network News Saturday, April 1, 2023


Japan’s SoftBank logs $5.9B loss as tech investments tumble


( ) -q-24- UNDATED (Correspondent Jeremy House) “e-commerce giant Alibaba.”

Japanese investor SoftBank Group has sunk into a deep loss for the October-to-December quarter.

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TAG: Correspondent Jeremy House reporting. Various uncertainties have slammed Japanese companies recently, such as soaring material costs and rising interest rates.

VERBATIM: The company was slammed by the global plunge in technology shares. The 783 billion yen net loss for the fiscal third quarter, was a reversal from a 29 billion yen profit a year earlier. SoftBank invests in hundreds of companies, including mobile carrier SoftBank, web services provider Yahoo, vehicle-for-hire company Didi and Chinese e-commerce giant Alibaba.

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