SoftBank Vision Fund Loses Money Again Despite Tech Rebound
- Arm posts mixed results with rising sales and surprise loss
- Vision Fund investments fell more than 90% to $3 billion
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SoftBank Group Corp. lost money in its Vision Fund investment unit again despite a rebound in tech stocks, as the Japanese conglomerate suffered losses on unlisted startups in its portfolio.
The Vision Fund unit lost ¥297.5 billion ($2 billion) in the three months ended March, compared with a ¥2.2 trillion loss a year earlier. The gargantuan investment fund that Masayoshi Son proudly set up in 2017 lost a record ¥4.3 trillion for the full fiscal year, almost doubling the record loss of ¥2.6 trillion the year before.