SoftBank Vision Fund posts a record loss on Coupang plunge

FILE PHOTO: SoftBank Corp's logo is pictured at a news conference in Tokyo

TOKYO: SoftBank Group Corp reported a record loss at its Vision Fund unit as the value of public holdings like Coupang Inc and Didi Global Inc plunged.

The unit’s loss in the three months ended Sept 30 was 825.1 billion yen (US$7.3bil or RM30.19bil), exceeding the 788.6 billion yen (RM28.87bil) loss the business posted amid pandemic-driven writedowns. Overall, the Tokyo-based company had a net loss of 397.9 billion yen (RM14.56bil) in the period.