SoftBank Group Corp. on Monday reported a record loss at its Vision Fund unit as the value of public holdings like Coupang Inc. and Didi Global Inc. plunged.
The unit¡¯s loss in the three months through Sept. 30 was ?825.1 billion ($7.3 billion), exceeding the ?788.6 billion loss the business posted amid pandemic-driven writedowns. Overall, the Tokyo-based company had a net loss of ?397.9 billion in the period.
Masayoshi Son¡¯s Vision Fund has been a volatile contributor of profit and loss since its creation in 2017. The first downturn started in 2019 with Uber Technology Inc.¡¯s disappointing public debut and the implosion of WeWork, followed by the impact of the coronavirus.
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