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SoftBank reports record $13 bn full-year net loss

The investment giant reported a net loss of 1.708 trillion yen ($13.17 billion) in the year to March 2022. (AFP)
The investment giant reported a net loss of 1.708 trillion yen ($13.17 billion) in the year to March 2022. (AFP)
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12 May 2022 03:05:50 GMT9
12 May 2022 03:05:50 GMT9

Japan’s SoftBank Group on Thursday logged a record annual net loss after a bruising period that saw assets hit by a US tech-share rout and a regulatory crackdown in China.

The investment giant reported a net loss of 1.708 trillion yen ($13.17 billion) in the year to March 2022 — a vertiginous plunge from its 4.99 trillion yen net profit the previous year, when results were boosted by huge market rallies.

AFP

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