SoftBank Vision Fund Posts $26 Billion Loss; Son Pledges Defense

SoftBank Vision Fund Posts $26 Billion Loss; Son Pledges Defense
SoftBank Corp's logo at a press conference in Tokyo on Feb. 4, 2021. Kim Kyung-Hoon/Reuters
Reuters
Updated:

TOKYO—Japan’s SoftBank Group Corp. reported a record $26.2 billion loss at its Vision Fund investment arm on Thursday, as rising interest rates and political instability whiplashed high-growth tech stocks.

The loss was in stark contrast to a year earlier when SoftBank delivered a record annual profit, putting founder and CEO Masayoshi Son’s strategy of concentrating heavily on riskier, high-growth stocks under more scrutiny.