SoftBank Group reported a quarterly loss on February 7, 2023, as its Vision Fund investment unit remained in the red for the fourth consecutive quarter.
The Vision Fund, known for its big bets on startups, reported an investment loss of 730.36 billion yen ($5.52 billion) in the fiscal third quarter. SoftBank itself posted a net loss of 783.42 billion yen, compared to a 29.05 billion yen profit a year earlier.
The results have intensified the focus on when markets will recover enough for SoftBank to list some assets, including the British chip designer Arm, considered one of its most valuable assets. SoftBank aims to list Arm by the end of 2023. Arm has made good progress towards being IPO-ready, and there are about 30 companies in the fund's portfolio that are set to go public when markets are ready.
The market turmoil since last year and the recent results show how rising interest rates, U.S.-China tensions, and Russia's invasion of Ukraine has diminished investor appetite for riskier assets, which is affecting SoftBank's portfolio of startup investments.