SoftBank Group reported a net profit of JPY 3tn ($21.6bn) in the quarter ended September vs. a JPY 3.1tn ($22.3bn) loss in the prior quarter. However, it saw a massive investment loss of JPY 1.38tn ($9.9bn) for its two Vision Funds – this included losses in investments like SenseTime, DoorDash and GoTo Group that accounted for a combined over $5bn loss. The Japanese conglomerate did not make any stock buyback announcement, disappointing analysts expectations – its shares are down over 12%. This follows two share buyback programs, a JPY 1tn ($7.2bn) buyback announced last year and a JPY 400bn ($2.9bn) buyback announced in August.
SoftBank’s dollar bonds were slightly weaker with its USD 6% Perp down 0.9 points to 94.5, yielding 14.82%.
For the full story, click here
