SoftBank G April-June settlement of accounts Final deficit of 3,162.7 billion yen

The SoftBank Group’s financial results for the entire group from April to June this year resulted in a significant deficit of 2,162.7 billion yen in final profit and loss. This was mainly due to the recording of valuation losses on the stocks of investees held in response to the slump un the global stock market.

The SoftBank Group announced on the 8^th of August that the financial results of the entire group for the three months until June showed a significant deficit of 3,162.7 billion yen in final profit and loss.

The SoftBank Group invest in overseas startups and other companies through funds but, the main factor was the report of more than 2.8 trillion yen in valuation losses on stocks held due to the slump in the global stock market.

In addition, the depreciation of the yen contributed to the expansion of dollar denominated debt.

On the other hand, sales increased by 6.3% from the same period of the previous year to 1.572 trillion yen due to the strong performance of the mobile phone business.

The SoftBank Group posted the largest final deficit of over 1.7 trillion yen in its final result for the last fiscal year, and concerns about a global recession have increased due to accelerating inflation and rising interest rates. The continuing slump in the stock market had a major impact on the business performance.

Source: https://www3.nhk.or.jp/news/html/20220808/k10013759711000.html