Giant losses 23.4 billion US dollars, setting a single season record!SoftBank did not resist the plunge of technology stocks

Zhongxin Jingwei, August 8th. After the Japanese stock market on Monday (8th), the Japanese technology industry investment giant Softbank Group announced its financial report showing that in the three months of June, it lost more than 23 billion US dollars in the three months of June. Fund) investment has been severely damaged by global technology stocks.

The financial report shows that as of the quarter of June 30, SoftBank's net loss was 3.16 trillion yen (about 23.4 billion US dollars), which was the largest quarterly loss in history, with a profit of 761.5 billion yen in the same period last year.

Source: SoftBank Finance Report

In contrast, from January to March this year, SoftBank Group's net loss was 2.1 trillion yen. In the entire fiscal year as of March 31, SoftBank lost 1.71 trillion yen, setting a historical record.

According to the Wall Street Journal Chinese website on the 8th, SoftBank said that in the three months of June, the total loss of Vision Fund 1, Vision Fund 2 and other investment businesses reached 2.33 trillion yen (about 17.2 billion US dollars). Vision Fund 2 is currently the main tool of SoftBank Investment Technology Company.

It is reported that SoftBank was eager to invest funds into technology startups in 2021 because of seeing financial and medical and health businesses emerging new opportunities during the epidemic. According to the documents submitted by SoftBank, Sun Zhengyi and his team invested a total of 38 billion US dollars to 183 companies through SoftBank's Vision Fund 2 last year.

According to Reuters on the 8th, in May this year, with the loss of these investment, Sun Zhengyi, the founder and CEO of SoftBank, has promised to tighten investment standards and retain cash to spend the economic downturn, but the latest results may be possible. Test investors' willingness to bear greater losses. Sun Zhengyi said at the briefing held on Monday that "the world is in a huge chaos."

According to Reuters, the listing investment of Vision Fund's decline in value includes AUTOSTORESTORE HOLDINGS LTD and artificial intelligence company Sensetime Group Inc. SoftBank said that the value of unlisted assets of its two vision funds has been remembered by 1.14 trillion yen. Analysts said that the reduction of these private assets is unlikely to reflect the level of weakness in the current market.

Data show that as of the end of June, the shares of 269 companies held by Vision Fund 2 were worth $ 37.2 billion and the acquisition cost was $ 48.2 billion.

The report pointed out that for the first time, the public offering of stocks plummeted and the market's doubts about the initial founding of losses, squeezing the important source of funds for SoftBank.

In the secondary market, SoftBank's stock price has recently stable. As of the closing of Monday, SoftBank has risen 0.74%in the Tokyo stock market.

Reuters also reports that SoftBank is not the only victim of selling science and technology stocks. Global, the hedge fund Tiger, who competed with the "unicorn hunter" Sun Zhengyi, under the underestimation of the impact of inflation and soaring on the market, its flagship fund fell by 50%in the first half of this year.

In addition, Buffett's Berkshire Hathaway's net loss attributable to shareholders in the second quarter was as high as US $ 43.755 billion, of which the net loss of investment and derivatives was US $ 5.3.038 billion. In other words, stock trading has become the main reason for the company's losses.

It can be seen that among the top five stocks in Berkshire Hathaway's positions, Apple, American Express, and Bank of America have exceeded 20%in the second quarter. (Zhongxin Jingwei APP)

- END -