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SoftBank Group reports $5.9bn loss amid tech downturn

Oct.-Dec. earnings show Vision Fund continues to suffer from tough market

SoftBank Group Chairman and CEO Masayoshi Son did not attend the news conference. Chief financial officer Yoshimitsu Goto did the presentation on Tuesday. (Screenshot from SoftBank's YouTube page) 

TOKYO -- SoftBank Group on Tuesday reported a net loss of 783 billion yen ($5.9 billion) for the three months through December, as its Vision Fund business suffered from the tech market downturn, marking the company's first loss in two quarters.

According to its financial statement, the Japanese group's loss on its Vision Fund investments reached 730 billion yen for the quarter, as its portfolio startups continued to face a challenging environment stemming from rising interest rates and a worsening global economic outlook.

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