SoftBank reports record $27.5 billion loss on crashing tech stocks

The world's biggest tech investor said Thursday that its Vision Funds had recorded a loss of 3.5 trillion yen in the year ended March. That was a significant reversal from the unit's performance from last year, when it had logged a healthy profit.At an earnings presentation in Tokyo, CEO Masayoshi Son acknowledged the losses and pledged to start taking a more conservative approach."We, SoftBank, should be taking defense," he said.

Its troubles escalated last December, when the company was forced to begin the process of delisting in the United States Didi is facing an SEC probe into its botched IPO, company saysDidi's shares have crashed nearly 70% so far this year. Last week, it also disclosed that it was being investigated by the US Securities and Exchange Commission for the bungled IPO.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

SoftBank Vision Fund Posts Record $27 Billion Loss as Tech Stocks PlummetSoftBank Founder Masayoshi Son said the company would be more “conservative when it comes to the pace of new investments” as it goes into a “defense” position.
Sumber: nbcchicago - 🏆 545. / 51 Baca lebih lajut »

SoftBank Vision Fund Posts Record $27 Billion Loss as Tech Stocks PlummetSoftBank Founder Masayoshi Son said the company would be more “conservative when it comes to the pace of new investments” as it goes into a “defense” position.
Sumber: nbcchicago - 🏆 545. / 51 Baca lebih lajut »

‘Meme’ and tech stocks are crashing, so how are experienced investors hanging on?Daily News | ‘Meme’ and tech stocks are crashing, so how are experienced investors hanging on?
Sumber: PhillyDailyNews - 🏆 89. / 67 Baca lebih lajut »