SoftBank’s quarterly profits erased on losses in vision fund
The results could dampen investor enthusiasm for founder Masayoshi Son’s big bets on untested start-ups, but he has Elliott in his corner
12 February 2020 - 17:33
Tokyo — Quarterly profit at SoftBank Group was almost wiped out as the Japanese technology giant was hit for a second straight quarter by losses at its $100bn vision fund.
Wednesday’s dismal results could further dampen investor enthusiasm for founder Masayoshi Son’s big bets on untested start-ups. While Son told a news conference that SoftBank had turned a corner, he also said he has been forced to scale back a second vision fund while investing with only SoftBank’s own capital...
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