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SoftBank s Vision Fund posts record profit on successful Coupang investment

SoftBank s Vision Fund posts record profit on successful Coupang investment
yourstory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yourstory.com Daily Mail and Mail on Sunday newspapers.

SoftBank posts $37-bn Vision Fund profit in Q4 on Coupang, eyes more IPOs

SoftBank Group Corp on Wednesday reported a 4.027 trillion yen ($36.99 billion) fourth-quarter profit at its Vision Fund unit after booking a gain on investment Coupang, underscoring its recovery a year after a record loss. It s clearly validation of Masa s thesis, Navneet Govil, Vision Fund s chief financial officer, told Reuters in an interview, referring to Masayoshi Son, the company founder and CEO. Group net profit was 4.99 trillion yen in the year ended March. That compares with an 962 billion yen loss a year earlier after teetering tech bets https://www.reuters.com/article/softbank-group-results depressed the value of its portfolio. Market enthusiasm for tech stocks drove the public listing of SoftBank-backed e-commerce firm Coupang and used-car trading platform Auto1 Group and the rising share price of ride-hailing firm Uber during the quarter.

SoftBank reports $37b Vision Fund profit on the back of Coupang gains

SoftBank reports $37b Vision Fund profit on the back of Coupang gains FILE PHOTO: Japan s SoftBank Group Corp Chief Executive Masayoshi Son bows his head after his presentation at a news conference in Tokyo, Japan, Nov. 5, 2018. REUTERS/Kim Kyung-Hoon/File Photo May 12, 2021 SoftBank Group Corp on Wednesday reported a 4.027 trillion yen ($36.99 billion) fourth-quarter profit at its Vision Fund unit after booking a gain on investment Coupang, underscoring its recovery a year after a record loss. “It’s clearly validation of Masa’s thesis,” Navneet Govil, Vision Fund’s chief financial officer, told Reuters in an interview, referring to Masayoshi Son, the company founder and CEO.

SoftBank joins top corporate earners with $37 billion Vision Fund profit

SoftBank joins top corporate earners with $37 billion Vision Fund profit By Sam Nussey and Tim Kelly Reuters TOKYO (Reuters) -SoftBank Group Corp on Wednesday reported a record 4.03 trillion yen ($36.99 billion) Vision Fund unit profit from a fourth-quarter investment gain on Coupang, putting it among the world s biggest earning firms a year after an unprecedented loss. Group net profit was 4.99 trillion yen ($45.88 billion)in the year ended March, beating the $42.5 billion made by Warren Buffett s Berkshire Hathaway Inc in its last business year. It also compares with an 962 billion yen loss a year earlier after teetering tech bets https://www.reuters.com/article/softbank-group-results-idINKBN22U0KM depressed the value of Softbank s portfolio.

SoftBank reports US$37 billion Vision Fund profit on Coupang

SoftBank reports US$37 billion Vision Fund profit on Coupang
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