The Japanese behemoth SoftBank saw a sharp quarterly increase after going back to the black in the three months leading up to June, with a gain of 608.5 billion yen ($3.96 billion) on its Vision Fund digital investment arm in its fiscal second quarter that concluded on September 30.
A total gain of 373.1 billion yen was recorded by the larger Vision Fund division, which also accounts for non-investment performance such administrative costs and gains and losses attributable to third-party investors. In the company’s first fiscal quarter, it reported a 204.3 billion yen deficit.
Noting rising share prices for Chinese ride-hailing giant Didi Global and e-commerce startup Coupang, as well as the value growth of its interests in Chinese internet company Bytedance, the company attributed the majority of the increase to valuation gains recorded at the SoftBank Vision Fund 1.
As a result of share price drops in companies including the U.S. automation tech business Symbotic and the Norwegian robotics company AutoStore, the Vision Fund 2 had a net loss of 232.6 billion yen.
The Vision Fund has been benefiting from the success of Arm Holdings’ September 2023 IPO, in which it now holds a sweeping majority interest of about 90% in the smartphone chip designer.
Source (CNBC)
