SoftBank posts blowout quarterly gains at Vision Fund tech arm
The company lodged a steep quarterly increase on Vision Fund gains after swinging back to black in the three months to June.
Japanese giant SoftBank logged a 608.5 billion yen ($3.96 billion) gain on its Vision Fund tech investment arm in its fiscal second quarter ended Sept. 30, posting a steep quarterly increase after swinging back to black in the three months to June.
The broader Vision Fund segment as a whole, which also factors in non-investment performance such as administrative expenses and gains and losses attributable to third-party investors, reported a gain of 373.1 billion yen. It had declared a loss of 204.3 billion yen in the company's first fiscal quarter.
The company attributed the lion's share of the increase to valuation gains recorded at the SoftBank Vision Fund 1, noting higher share prices for e-commerce firm Coupang and Chinese ride-hailing giant Didi Global, as well as the value increase of its investments in Chinese tech company Bytedance.
The Vision Fund 2 meanwhile saw a net loss of 232.6 billion yen, following declines in share prices including those of Norwegian robotics firm AutoStore and U.S. automation tech company Symbotic.
The Vision Fund has been cashing in on the success of the September 2023 listing of smartphone chip designer Arm Holdings, in which it owns a sweeping majority stake of around 90%.
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