Pinwan, August 8, SoftBank Group today released its financial results for the first quarter of fiscal 2022 ended June 30. According to the financial report, SoftBank’s first-quarter net sales were 1.5720 trillion yen (about 11.625 billion U.S. dollars), an increase of 6.3% from 1.4791 trillion yen in the same period last year; the net loss attributable to SoftBank’s parent company shareholders was 3.1627 trillion yen (approximately US$23.388 billion), compared with a net profit of 761.509 billion yen in the same period last year.
The main reason for SoftBank’s severe losses this time is investment losses. As the stock market tumbled, shares in SoftBank’s portfolio shrunk in value.
According to the financial report, SoftBank’s investment loss in the first quarter was 2.8344 trillion yen (about 20.960 billion US dollars). Among them, SoftBank’s main investment vehicle Vision Fund (Phase I and II) has a total investment loss of 2.9191 trillion yen (about 21.586 billion US dollars), and an operating loss of 2.3308 trillion yen (about 17.236 billion US dollars).
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