binance left Huobi Global Coinmarketcap net_left adver left
Detail

SoftBank Vision Fund posts $26 billion loss; Son pledges defence

By Sam Nussey TOKYO (Reuters) -Japan's SoftBank Group Corp reported a record $26.2 billion loss at its Vision Fund investment arm on Thursday, as rising interest rates and...
SoftBank Vision Fund posts $26 billion loss; Son pledges defence © Reuters. FILE PHOTO: SoftBank Corp's logo is pictured at a news conference in Tokyo, Japan, February 4, 2021. REUTERS/Kim Kyung-Hoon

By Sam Nussey

TOKYO (Reuters) -Japan's SoftBank Group Corp reported a record $26.2 billion loss at its Vision Fund investment arm on Thursday, as rising interest rates and political instability whiplashed high-growth tech stocks.

The loss was in stark contrast to a year earlier when SoftBank delivered a record annual profit, putting founder and CEO Masayoshi Son's strategy of concentrating heavily on riskier, high-growth stocks under more scrutiny.

Investors are now increasingly questioning whether many of the once high-flyers it has invested in have a clear path to profitability. South Korean e-commerce firm Coupang is trading 70% below its listing price. Ridehailers Didi Global Inc and Grab Holdings, also tumbled during the January-March quarter.

"When the world is in disorder, SoftBank should play defence," Son said at a subdued briefing following the earnings announcement, pledging to bolster the group's cash position through asset monetisation and tighten investment criteria.

Son's earnings presentations are closely watched for clues into his thinking about the future of the sprawling tech conglomerate. On Thursday, he repeatedly emphasised the group's financial prudence and the prospects for chip designer Arm, which SoftBank hopes to list in the United States.

Vision Fund has 475 companies in its portfolio and made 43 investments during the fourth quarter. It is slowing the pace of investment as private prices lag the fall in public markets.

While 20 portfolio companies raised funds at higher valuations during the quarter, SoftBank also marked down some of its unlisted assets, in sectors such as consumer, fintech and transportation, contributing to the record loss.

REVOLUTION, DELAYED

SoftBank was likely to invest half or even a quarter as much as last year, Son said, as part of a pledge to keep the group's loan-to-value ratio, which was 20.4% at March-end, below 25%.

Son, 64, has described SoftBank as a goose laying golden eggs but the pace of listings has slowed with one notable recent exception, Indonesia's GoTo, sliding since going public last month.

SoftBank's own shares fell 8% ahead of earnings to 4,491 yen and are down more than half from highs in March last year. The group is 40% through a 1 trillion yen buyback programme launched in November.

The group's annual net loss was 1.7 trillion yen ($13.15 billion). The Vision Fund unit's assets, including the Latin American funds, were worth $175.6 billion at March-end. That compared to an acquisition cost of $141.6 billion.

SoftBank also recorded, in its non-consolidated earnings, a 669.5 billion yen loss due to its SB Northstar trading arm, which placed bets on listed stocks and derivatives but racked up personal losses for Son.

The unit's activity was part of a push to diversify SoftBank's portfolio beyond e-commerce company Alibaba (NYSE:BABA), whose shares have fallen by more than two thirds as regulatory action roils China tech companies.

"There are wonderful companies in China and we will invest in them but with smaller deals," said Son.

Even as Son emphasised his current conservatism, the billionaire reiterated his belief in the "information revolution" with a graph showing the current market downturn as a blip before internet companies resumed their upward climb.

"In a year or two I think the stock market will recover and then the timing to go on the offensive will return," Son said.

($1 = 129.2600 yen)

HOT AUTO TRADE BOT SOFTWARE ig right nyse right Neteller adver right
APPROVED BROKERS
rakuten_main right top net_home_top HOT AUTO TRADE BOT SOFTWARE Binance _ main right top fbs_main right top tifia_main right top
28-05-2022 02:03:29 (UTC+7)

EUR/USD

1.0731

+0.0007 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

EUR/USD

1.0731

+0.0007 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

GBP/USD

1.2623

+0.0029 (+0.23%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (10)

Sell (0)

USD/JPY

127.08

-0.06 (-0.04%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

AUD/USD

0.7152

+0.0054 (+0.76%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (1)

USD/CAD

1.2729

-0.0043 (-0.34%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (2)

EUR/JPY

136.38

+0.04 (+0.03%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (11)

Sell (0)

EUR/CHF

1.0279

-0.0009 (-0.09%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Gold Futures

1,850.88

+3.28 (+0.18%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

Silver Futures

22.112

+0.147 (+0.67%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (2)

Copper Futures

4.3195

+0.0605 (+1.42%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (9)

Sell (0)

Crude Oil WTI Futures

114.87

+0.78 (+0.68%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (7)

Brent Oil Futures

115.31

+1.14 (+1.00%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (1)

Natural Gas Futures

8.736

-0.159 (-1.79%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (2)

US Coffee C Futures

228.65

+2.05 (+0.90%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (8)

Euro Stoxx 50

3,808.86

+68.55 (+1.83%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (9)

Sell (0)

S&P 500

4,135.80

+77.96 (+1.92%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

DAX

14,462.19

+230.90 (+1.62%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (7)

Sell (0)

FTSE 100

7,585.46

+20.54 (+0.27%)

Summary

Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (4)

Sell (4)

Hang Seng

20,697.36

+581.16 (+2.89%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

US Small Cap 2000

1,881.55

+38.70 (+2.10%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

IBEX 35

8,933.60

+44.80 (+0.50%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

BASF SE NA O.N.

51.110

+0.320 (+0.63%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (1)

Sell (7)

Bayer AG NA

66.58

+0.68 (+1.03%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Allianz SE VNA O.N.

200.20

+1.40 (+0.70%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Adidas AG

179.96

+3.20 (+1.81%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (1)

Deutsche Lufthansa AG

6.881

+0.031 (+0.45%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (2)

Siemens AG Class N

121.86

+3.34 (+2.82%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (1)

Deutsche Bank AG

10.392

-0.022 (-0.21%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (6)

 EUR/USD1.0731↑ Buy
 GBP/USD1.2623↑ Buy
 USD/JPY127.08↑ Sell
 AUD/USD0.7152Buy
 USD/CAD1.2729Buy
 EUR/JPY136.38↑ Buy
 EUR/CHF1.0279↑ Buy
 Gold1,850.88↑ Sell
 Silver22.112↑ Buy
 Copper4.3195↑ Buy
 Crude Oil WTI114.87↑ Sell
 Brent Oil115.31↑ Buy
 Natural Gas8.736↑ Buy
 US Coffee C228.65↑ Sell
 Euro Stoxx 503,808.86↑ Buy
 S&P 5004,135.80↑ Buy
 DAX14,462.19↑ Buy
 FTSE 1007,585.46Sell
 Hang Seng20,697.36↑ Buy
 Small Cap 20001,881.55↑ Buy
 IBEX 358,933.60↑ Buy
 BASF51.110Neutral
 Bayer66.58↑ Buy
 Allianz200.20↑ Buy
 Adidas179.96↑ Buy
 Lufthansa6.881↑ Buy
 Siemens AG121.86Buy
 Deutsche Bank AG10.392↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,830/ 6,940
(0/ 0) # 1,716
SJC HCM6,855/ 6,955
(0/ 0) # 1,731
SJC Hanoi6,855/ 6,957
(0/ 0) # 1,733
SJC Danang6,855/ 6,957
(0/ 0) # 1,733
SJC Nhatrang6,855/ 6,957
(0/ 0) # 1,733
SJC Cantho6,855/ 6,957
(0/ 0) # 1,733
Cập nhật 28-05-2022 02:03:31
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,853.12+0.20.01%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V31.25031.870
RON 95-III30.65031.260
E5 RON 92-II29.63030.220
DO 0.05S25.55026.060
DO 0,001S-V26.35026.870
Dầu hỏa 2-K24.40024.880
ↂ Giá dầu thô thế giới
WTI$113.75-0.77-0.68%
Brent$115.20-0.76-0.67%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.030,0023.340,00
EUR24.263,1125.622,23
GBP28.523,9629.740,84
JPY177,60188,03
KRW15,9119,38
Cập nhật lúc 18:54:46 27/05/2022
Xem bảng tỷ giá hối đoái
binance main right Fxpro Main Right aetos main right adver main right