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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.
TOKYO: SoftBank Group Corp. on Wednesday reported a record fourth quarter 4.03 trillion yen ($36.99 billion) Vision Fund unit profit from an 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 a 962 billion yen loss a year earlier after teetering tech bets depressed the value of Softbank’s portfolio.
“It’s clearly validation of Masa’s thesis,” Navneet Govil, Vision Fund’s chief financial officer, told Reuters in an interview, referring to company founder and CEO Masayoshi Son.
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.
As the 2021 session of the Texas legislature winds down to its final three weeks, members appear ready to address only only part of what ails the Texas electricity grid.