SoftBank "Vision Fund Losses May Reach 1.8 Trillion Yen"

[Image source=Yonhap News]

[Asia Economy Reporter Yuri Kim] Japan's SoftBank Group has projected that the Vision Fund's loss will reach 1.8 trillion yen (approximately 20.2906 trillion KRW).

According to foreign media including Bloomberg on the 13th, SoftBank Group expects the Vision Fund to record losses for the third consecutive quarter, resulting in a total group loss of around 1.35 trillion yen. This is the first time in 15 years that SoftBank Group has posted an operating loss.

The Vision Fund, established in 2017, is the world's largest technology investment fund, created with $28.1 billion and $45 billion contributions from SoftBank Group and Saudi Arabia's Public Investment Fund (PIF), respectively, totaling $100 billion.

The large-scale losses are attributed to the deteriorating market environment caused by the COVID-19 pandemic. Foreign media reported that this has dealt a significant blow to SoftBank Group Chairman Masayoshi Son's recent efforts to restore investor confidence.

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