The Japanese SoftBank reported the second consecutive quarterly loss of the investment fund Vision Fund. Both broke records: in the first quarter, the company lost $26.2 billion, in the second – $23.4 billion.

SoftBank reports second consecutive quarterly loss for investment fund Vision Fund

The losses suffered by SoftBank Group are indicated in the company’s quarterly report.

In the first quarter, the Japanese holding company posted a net loss of $26.2 billion, a record amount in SoftBank Group’s history. The second quarter, the company again worked at a loss, this time $23.4 billion, $6 billion of them, as a result of the fall in the Japanese yen.

SoftBank is fixing the losses of its investment fund Vision Fund, which specializes in investments in companies in the technology sector. The fund is losing money due to the fall in the value of the company’s securities, which is due to investor fears about the risks of a global economic downturn.

SoftBank Group founder Masayoshi Sona has warned of potential layoffs, operating costs and increased company selectivity in new investments.

Author:

Kirill Bilyk

Source: RB

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I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.

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