SoftBank reports $3.5 billion net loss in Q2
The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei KatoVision Fund unit reported 1.167 trillion yen investment lossreported a 397 billion yen net loss for the July-September quarter, dragged down by a $10 billion investment loss at its Vision Fund unit as tech valuations fell.
"The strategy of let's create the perception of enhanced value by taking things public hasn't really worked this year," Redex Research analyst Kirk Boodry said. The group's largest asset, Chinese e-commerce firm Alibaba , fell by around a third in the second quarter. Bright spots for the Vision Fund include its India portfolio with ride-hailer Ola and logistics firm Delhivery targeting listings.SoftBank has been trimming stakes following the expiry of lock-up periods, while focusing on investing through its second Vision Fund that has $40 billion in committed capital from SoftBank itself.
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