After a difficult year for the digital startup industry, in which SoftBank Group is significantly involved, the company on Thursday disclosed an annual net loss of more than $7.2 billion.
On sales of 6.57 trillion yen, the corporation reported a net loss of 970 billion yen ($7.2 billion), which included significant losses from its Vision Fund holdings.
According to a statement from SoftBank Group, the global IT downturn affected the Vision Fund 1 and 2 vehicles.
The group’s investment in Chinese tech giant Alibaba was cut, though, which lessened the severity of the loss.
Despite certain firms’ share prices increasing in the fourth quarter, many public portfolio companies’ share prices decreased for the fiscal year due to the weakening of the global stock markets, according to SoftBank.
Related posts:
Beijing’s Macau envoy has been assigned a new ‘national security’ job, according to official media.
As Putin prepares to visit Beijing, the United States is concerned about Russia and China’s growing connections.
Iran and Saudi Arabia will reestablish relations in an agreement mediated by China.
Hong Kong and China are getting closer to restoring their border.
The United Kingdom accuses Kremlin of attempting to establish a pro-Russian leader in Ukraine.
FM Qureshi expresses gratitude to his Chinese counterpart for China’s unwavering support for Pakistan.
Putin will pay ‘in the long term,’ according to Biden, for the invasion of Ukraine.
In the deadliest epidemic in two years, China has roughly 3,400 daily viral cases.
China signals a relaxing of the control on technology in order to stimulate the economy
Biden enrages China by pledging to defend Taiwan
Snowfall in Japan kills 17 people and injures hundreds more.
According to the Finnish president, Turkey currently holds Finland’s membership in NATO.
North Korea launches a long-range missile after being warned about military exercises.
Australia, India vow cordiality in economic, defence areas
According to the UN, at least 240 civilians have been killed and 64 have been injured in Ukraine.
Suu Kyi’s attorneys will deliver their closing arguments in the junta trial.