SFTBY - Softbank's Vision Fund Bounces Back With $4B Gains The Highest In Nearly 3 Years | Benzinga
SoftBank Group Corp (OTC:SFTBY) has witnessed a significant turnaround in its earnings, with its flagship Vision Fund posting its highest gains in almost three years. The recovery is attributed to the resurgence in the valuation of tech companies.
What Happened: In the December quarter of fiscal year 2023, the Vision Fund, SoftBank’s primary tech investment arm, reported a JPY 600.7 billion ($4.35 billion) gain on investments. This marks a substantial upturn following the record losses in the previous fiscal year, reported CNBC.
SoftBank’s net income also rebounded, marking the first quarterly profit after four consecutive losses. This turnaround comes after a challenging fiscal year that concluded in March 2023, during which the Vision Fund suffered a record loss of approximately ...