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Soft Sofa posted an investment gain on its Vision Fund in the second fiscal quarter, but posted another quarterly loss.
SoftBank’s flagship technology investment firm struggled in the fiscal year that ended in March jear, with a record loss of approximately $32 billion. This was caused by a decline in the prices of technology shares and the deterioration of some of SoftBank’s bets in China.
In the June quarter, the Vision Fund posted its first investment gain in five consecutive quarters, again signaling the first signs of growth. This coincided with the recovery of technology share prices.
Last year, SoftBank’s high-profile founder Masayoshi Son noted that the company would go into “defense mode,” slowing the pace of its investments and becoming more cautious. In June, Son signaled a shift into “attack mode,” expressing excitement about the potential of artificial intelligence technology.
Chip designer Arm went public in the US during SoftBank’s second fiscal quarter. The company acquired Arm in 2016 for about $32 billion at the time. At Arm’s IPO, the company was valued at more than $50 billion.
