SoftBank Vision Fund loses US$2b on portfolio struggles


Japan's SoftBank Group Corp Chief Executive Masayoshi Son attends a news conference in Tokyo, Japan, November 5, 2018. REUTERS/Kim Kyung-Hoon

TOKYO: In a sign of continuing struggles with its startup investments, SoftBank Group Corp. lost money again in its Vision Fund, one quarter after the Japanese company posted a record loss driven by the meltdown at WeWork.

The Vision Fund lost 225.1 billion yen ($2.05 billion) for the three months ended in December, the company said in a statement Wednesday. SoftBank Group reported a slim operating profit of 2.6 billion yen, compared with the 344.7 billion yen average of analyst estimates in the September quarter.

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Softbank , Vision Fund , meltdown , WeWork

   

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