(MENAFN) SoftBank Group on Monday showed a peak decrease for the second quarter in a row, as market decline remain to extend through its portfolio of technology shares.
The Japanese investment group recorded a net decline of 3.16 trillion yen (USD23.4 billion) in the second quarter, in comparison with 762 billion yen in net income for the same span of time in 2021.
The declines were sharper than the prior three months 2.1 trillion yen.
SoftBank posts unrealized earns and declines on its portfolio of over 300 tech shares, most of which are directed by its two Vision Funds.
In the most recent three months, the two Vision Funds as well as the Latin America Fund recorded a mutual 2.92 trillion yen in investment declines.
The stock price of some of its publicly registered holdings, including South Korean e-commerce firm Coupang, U.S. ride-hailing firm Uber Technologies in addition to U.S. food delivery operator DoorDash, tumbled after a worldwide sell-off in the share market, some of these shares have regained in latest weeks.
MENAFN08082022000045014228ID1104661033
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.