SoftBank reports quarterly loss of $23 billion as tech stocks slide


TOKYO – Japanese technology investor Softbank The group company reported on Monday that it lost more than $23 billion in the three months to June after its Vision Fund investments suffered a global sell-off in tech stocks.

SoftBank reported a net loss of 3.16 trillion yen, or $23.4 billion, for the quarter ended June 30. That compares with a net loss of 2.1 trillion yen in the January-March quarter. SoftBank posted a record loss of 1.71 trillion yen for the full fiscal year ended March 31.



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