SoftBank books $1.3 bln loss from tech stock speculation

SoftBank Chief Executive Masayoshi Son has dropped operating profit as a performance metric, citing the group's shift away from running businesses to tech investing.

TOKYO: Japan's SoftBank Group Corp on Monday reported a 131.7 billion yen ($1.27 billion) loss from speculation on tech stocks after an attempt to diversify using its cash pile backfired.

On a brighter note, however, the group also reported that the investment portfolio of its mammoth Vision Fund is no longer under water thanks to a broad upswing in tech valuations.