Friday, 24 March, 2023

Softbank in snowstorm as vision fund loses ¥1T during second quarter

<p>Softbank&#39;s vision fund lost &yen;1T in value, the main reason for this dip was being pointed at China&#39;s crackdown on tech companies. The company has been tangled up in fines and bans over the last six months. Alibaba, one of the company&#39;s largest assets saw its valuation fall by $52B and was also fined $2.7B for breaching China&#39;s antitrust regulations. Softbank also saw a dip of 43% in its total comprehensive income for six months up till Sept 30.<br /> &nbsp;</p>