Search Site

Trends banner

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

SoftBank posts $3.5bn loss

The Japanese group has made aggressive investments in tech startups and has been exposed to fickle market forces. (AFP)
  • Japan's SoftBank Group has logged its first quarterly net loss in 18 months
  • The loss is due to the falling value of investments in its Vision Fund, including Chinese ride-hailing giant Didi Chuxing

Japan’s SoftBank Group on Monday, November 8, logged its first quarterly net loss in 18 months on the falling value of investments in its Vision Fund, including Chinese ride-hailing giant Didi Chuxing.

The telecoms firm-turned-investment giant posted a net loss of ¥397.9 billion ($3.5 billion) in July-September, its first net loss since January-March 2020.

That dragged first-half net profit down 80.7 percent on-year to ¥363.5 billion ($3.2 billion).

The SoftBank Group has poured money into some of the tech world’s biggest names and hottest new ventures, from AI to biotech, through its $100-billion Vision Fund.

In total, the firm said its loss on investments during the quarter amounted to ¥1.66 trillion ($14.62 billion), including those incurred by its Vision Fund operations.

In the six months to September, SoftBank said it saw a loss worth ¥321 billion ($2.83 billion) for DiDi Global, the parent of Didi Chuxing, which has been hit by Beijing’s tech crackdown.

Among other major investments, SoftBank said it lost ¥1.21 trillion ($10.65 billion) in its stake in South Korean e-commerce firm Coupang.

First-half sales rose 13.4 percent to ¥2.98 trillion ($26.24 billion), while operating profit sagged 27.4 percent to ¥1.05 trillion ($9.25 billion).