SoftBank Group Corp., a Japanese venture capital firm, announced its performance for the second quarter (April – September) on Nov. 8. Its Vision Fund lost $7.96 billion, resulting in a $3.58 billion loss in investment income, down $21.98 billion from the same period last year. Chinese media have called it the biggest “victim” of the…
SoftBank Becomes the Biggest Victim Amid China’s Clampdown on Internet Giants
SoftBank Group to Buy Back Up to 14.6 Percent of Shares
November 8, 2021
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TOKYO—SoftBank Group Corp. said on Monday it would buy back up to one trillion yen ($8.82 billion) of its own shares, or 14.6 percent of outstanding stock. The plan comes after the Japanese conglomerate completed a record 2.5 trillion yen buyback in May. ($1 = 113.3500 yen)
Japan’s SoftBank Sinks Into Losses Over China Investments
November 8, 2021
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TOKYO—SoftBank Group Corp. sank into red ink for the July-September period, dragged down by losses on its investments in China, the Japanese technology conglomerate said Monday. SoftBank reported a 397.9 billion yen ($3.5 billion) loss for the fiscal second quarter, compared to a 627 billion yen profit recorded the same period the previous year. Quarterly…
SoftBank Invests $400 Million in Activewear Maker Vuori
SoftBank Group Corp.’s venture capital fund has invested $400 million in Vuori Inc., the California-based maker of leggings and sports bras said on Wednesday, valuing it at $4 billion. Vuori, founded in 2015, plans to expand its Western European and Asian markets next year and open more than 100 U.S. stores in the next five…
SoftBank Backs Steven Mnuchin’s $2.5 Billion Private Equity Fund
September 22, 2021
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SoftBank Group will invest in a $2.5 billion private equity fund set up by former U.S. Treasury Secretary Steven Mnuchin, the Japanese conglomerate said on Wednesday without disclosing the size of the investment. The fund, Liberty Strategic Capital, will be backed by SoftBank’s $40 billion second Vision Fund and Abu Dhabi-based sovereign wealth fund Mubadala,…
SoftBank Leads $680 Million Funding Round in NFT Fantasy Soccer Game Sorare
September 21, 2021
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LONDON—Blockchain-based fantasy soccer game Sorare has raised $680 million in a funding round led by SoftBank, with players including ex-England international Rio Ferdinand and Spain’s Gerard Pique also investing, the company said on Tuesday. Paris-based Sorare said the investment valued the company at $4.3 billion. Founded in 2018, Sorare is an online game where players…
SoftBank CEO Son Says Smart Robots Can Revitalise Japan Growth, Competitiveness
September 15, 2021
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TOKYO—SoftBank Group Corp Chief Executive Masayoshi Son on Wednesday said so-called smart robots can revitalise Japan’s economy and competitiveness, doubling down on robotics just as the company’s much-hyped “Pepper” robot prepares to bow out. Son, at the online SoftBank World 2021 conference, said the firm’s Vision Fund is involved with 18 companies developing machines enhanced…
Deutsche Telekom Lifts T-Mobile US Stake in Softbank Swap Deal
September 7, 2021
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BERLIN/TOKYO—Deutsche Telekom has struck a share-swap deal with Softbank Group to increase its stake in U.S. unit T-Mobile and sold its Dutch unit in a major restructuring that strengthens the German group’s transatlantic focus. As a result of the two deals announced on Tuesday, Deutsche Telekom will raise its stake in T-Mobile US by 5.3…
SoftBank Pauses China Investing as Crackdown Roils Portfolio
TOKYO—SoftBank Group Corp. will pause its investing in China as it waits for regulatory action against Chinese tech firms to play out, Chief Executive Masayoshi Son said on Aug. 10. “Until the situation is clearer we want to wait and see,” Son told a news conference. “In a year or two I believe new rules…
SoftBank Pauses China Investing as Clampdown Roils Portfolio
TOKYO—SoftBank Group Corp. will pause its investing in China as it waits for regulatory action against Chinese tech firms to play out, Chief Executive Masayoshi Son said on Aug. 10. “Until the situation is clearer we want to wait and see,” Son told a news conference. “In a year or two I believe new rules…
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