On Wednesday, the 12th of February 2020, Japanese Investment Conglomerate, SoftBank Group Corp., had revealed its fourth quarterly earnings’ report that pointed towards a steep climbdown as the Japanese tech giant had been battered hard for the second consecutive quarter following en masse losses at its $100 billion Vision Fund.
On top of that, as the Japanese tech investment conglomerate’s fourth quarterly profits were almost entirely evaporated following havoc-scale losses at its $100 billion Vision Fund, SoftBank founder Masayoshi Son had again come under sheer scrutiny, while a raft of big bets of Son on tech start-ups that turned tail over the past six month had made debarkations of a deeper downcast on investors’ optimism.
Besides, according to the Japanese investment conglomerate’s quarterly earnings’ report for the quarter that ended on December 31st, the group reported an operational profit of $24 million or 2.6 billion Japanese Yen, down from an operational profit of $3.98 billion or 438 billion Japanese yen a year earlier, while the group’s Vision Fund posted $2.05 billion in operational losses.
Meanwhile, despite cautious optimism from SoftBank CEO Son, referring to a number of SoftBank’s missteps over the second half of the year including the WeWork mishap, a Jeffries analyst, Atul Goyal wrote in a client note ahead of the earnings’ report on Wednesday (February 12th), “Softbank should focus on one thing, shareholder value creation.
” Nonetheless, despite another dismal quarterly earnings’ report for the Japanese Investment conglomerate, shares’ prices of Tokyo-listed SoftBank Group wrapped up Wednesday’s (February 11th) market 11.89 per cent higher to Japanese Yen 5,751 ($52.24) per share.