SoftBank Group- Historic Loss
SoftBank Group posted its biggest-ever loss on Thursday, hurt by a global selloff in technology shares.
The Key reason of loss brought about by China's crackdown on the tech sector and rising interest rates.
SoftBank Group- Major Reason
SoftBank Group- March 31, 2022 Report
SoftBank Group reported a loss of $13 billion (1.7 trillion yen) for the financial year ended March 31, 2022.
SoftBank's Vision Funds have been hit hard by the significant drop in tech valuations.
SoftBank Group- Vision Fund
SoftBank Group- Vision Fund Finance Sheet
SoftBank's Vision Fund I and II and others saw a cumulative loss of $26.1 billion for the year compared gain of $61.1 billion in FY21.
The fund has lost money on several of its investments, including $8 billion in China's Didi, $2.5 billion in Singapore's Grab.
SoftBank Group- Lost Money of Investments
SoftBank Group- Nature of Investments
The value of SoftBank's investments tends to fluctuate sharply due to the nature of investments.
If we have a look at the finance sheet of Softbank previous years with a profit of $38 billion (4.99 trillion yen) a year ago.
SoftBank Group- Previous Year Finance Sheet
Soft Bank Group
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