( ) -q-22- UNDATED (Correspondent Jeremy House) “of $18.6 billion.” Japanese technology company SoftBank Group continued to rack up losses for the fiscal first quarter as technology investments soured amid a market downturn. [CutID: <Cuts> JAPAN-SOFTBANK-house-q-TUEam.mp3 Time: 22s Title: JAPAN-SOFTBANK-house-q-TUEam Out-cue: of 18.6 billion dollars] TAG: Correspondent Jeremy House reporting. Softbank’s Chief Financial Officer Yoshimitsu […]
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Japan’s tech investor SoftBank trims losses and promises offensive turnaround
( ) -q-22- UNDATED (Correspondent Jeremy House) “of $18.6 billion.”
Japanese technology company SoftBank Group continued to rack up losses for the fiscal first quarter as technology investments soured amid a market downturn.
[CutID: <Cuts> JAPAN-SOFTBANK-house-q-TUEam.mp3
Time: 22s
Title: JAPAN-SOFTBANK-house-q-TUEam
Out-cue: of 18.6 billion dollars]
TAG: Correspondent Jeremy House reporting. Softbank’s Chief Financial Officer Yoshimitsu Goto struck an upbeat tone on Tuesday, stressing that the environment for technology issues was improving.
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VERBATIM: The April-to-June red ink, at $3.4 billion, was smaller than a year ago. Losses came from what SoftBank calls its Vision Funds. SoftBank Vision Fund 1 marked a $12.4 billion gain since its inception, while SoftBank Vision Fund 2, set up after the first fund, was still performing at a loss of $18.6 billion.