Japan tech investor SoftBank Group sinks into second year of losses ...Middle East

Business Standard - Economy
Japan tech investor SoftBank Group sinks into second year of losses
source : Business Standard ( Middle East ) () 41
Japanese technology investor SoftBank Group reported Thursday a loss of 970 billion yen (USD 7 billion) for the fiscal year that just ended the second year in a row of red ink. Tokyo-based SoftBank Group Corp. racked up a 1.7-trillion-yen (USD 13-billion) 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, the company said in a statement. Sales for the fiscal year, which ended in March, rose 6 per cent from the previous fiscal year to 6.57 trillion yen (USD 49 bi

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