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SoftBank

SoftBank swings to $6bn quarterly profit

Vision Fund chief Rajeev Misra and COO Marcelo Claure removed from board

Masayoshi Son has overseen a sale of SoftBank assets and change of investment focus this year. (Screenshot from SoftBank's website)

TOKYO -- SoftBank Group founder and Chairman Masayoshi Son said tens of billions of dollars worth of fluctuations in its investment portfolio were "within the margin of error" after an improved performance at its Vision Fund was partly offset by derivatives losses.

"Softbank's NAV (net asset value) can go up and down by 3 trillion yen and 5 trillion yen every three months," Son said at an earnings presentation on Monday. "This is Softbank's new normal. 2-3 trillion yen is within the margin of the error."

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