softbank

TOKYO— SoftBank Group Corp. 9984 10.64% , one of the world’s most aggressive high-tech investors, said Thursday it lost more money in its last fiscal year than it ever has—$13.2 billion—and will cut back its pace of new investments.“The world is in a chaotic situation,” said Chief Executive Masayoshi Son, citing Covid-19 and Russia’s invasion of Ukraine. “In this chaotic world, the approach we at SoftBank should take is defense.” The rough…

“The world is in a chaotic situation,” said Chief Executive Masayoshi Son, citing Covid-19 and Russia’s invasion of Ukraine. “In this chaotic world, the approach we at SoftBank should take is defense.” The comment came after SoftBank reported a net loss of ¥1.71 trillion, equivalent to $13.2 billion, for the fiscal year that ended March 31. That was its biggest full-year loss, topping a record set two years ago, and followed a nearly ¥5 trillion net profit the previous fiscal year.…

SoftBank Founder Masayoshi Son said there is "confusion in the world" and in the markets due to a number of factors including Russia's invasion of Ukraine, high inflation and central bank moves to raise interest rates. These factors have contributed to a record annual loss at SoftBank's Vision Fund.Kentaro Takahashi | Bloomberg | Getty ImagesSoftBank on Thursday reported a record loss at its Vision Fund investment unit, as technology stocks have been hammered by rising interest rates and Beijing's regulatory crackdown has…

Reliance Industries, SoftBank Group-backed Ola Electric, and automaker Mahindra & Mahindra have submitted bids under the country's $2.4 billion (roughly Rs. 17,800 crore) battery scheme, the government said on Saturday.India last year finalised an incentive programme to encourage companies to invest in the local manufacturing of batteries as it looks to establish a domestic supply chain for clean transport and build storage for renewable energy.Hyundai Global Motors, engineering conglomerate Larsen & Toubro, and…

US firm Nvidia is scrapping its $40 billion (roughly Rs. 2,98,600 crore) bid to buy UK mobile chip technology powerhouse Arm from SoftBank after persistent objections from regulators, the Financial Times reported Tuesday.Nvidia and SoftBank Group both declined to comment on the report, which cited three unnamed sources with direct knowledge of the deal.But the collapse would be no surprise, after recent speculation that the deal was on the verge of failure following pressure from US, UK, and EU regulators concerned it…