SoftBank profit wiped out by Vision Fund losses, Masayoshi under scrutiny again



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SoftBank profit wiped out by Vision Fund losses, Masayoshi under scrutiny again

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.