SoftBank swings to US$7bil net loss in second quarter

FILE PHOTO: File Photo: Softbank Group’s logo at its headquarters in Tokyo, Japan, September 1, 2026. REUTERS/Manami Yamada/File Photo/File Photo

TOKYO: Technology investor SoftBank Group generated a net loss of 1.1 trillion yen ($7 billion) in the July-September quarter, it said on Tuesday.

The result compares with 2.5 trillion yen profit in the same period a year earlier when it logged a huge investment gain on an increase in the value of its stake in ChatGPT-maker OpenAI.