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SoftBank posts surprise loss, Vision Fund returns to profit
Business Standard
|August 09, 2023
Japan's SoftBank Group posted a surprise loss but said it was dipping its toes back into new investments after its Vision Fund unit returned to the black for the first time in six quarters.
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The Vision Fund unit booked an investment gain of about 160 billion yen ($1.1 billion) for the April-June period, helped by an increased valuation for Arm, the chip designer slated for an initial public offering later this year.
Without the fillip from Arm, the picture was less rosy with the company's Vision Funds reporting a combined loss of 13 billion yen.
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