SoftBank reports US$3.5 billion net loss in Q2

FILE PHOTO: Japan's SoftBank Group Corp Chief Executive Masayoshi Son bows his head after his presentation at a news conference in Tokyo, Japan, Nov. 5, 2018. REUTERS/Kim Kyung-Hoon/File Photo

TOKYO: SoftBank Group Corp slipped into the red with a 397 billion yen ($3.5 billion) loss for the July-September quarter, hit by falling valuations in the tech portfolio of its Vision Fund unit.

The loss compared with a profit of 628 billion yen in the same period a year earlier.