TOKYO—Japan’s SoftBank Group Corp. reported a record $26.2 billion loss at its Vision Fund investment arm on Thursday, as rising interest rates and political instability whiplashed high-growth tech stocks.
The loss was in stark contrast to a year earlier when SoftBank delivered a record annual profit, putting founder and CEO Masayoshi Son’s strategy of concentrating heavily on riskier, high-growth stocks under more scrutiny.
Investors are now increasingly questioning whether many of the once high-flyers it has invested in have a clear path to profitability. South Korean e-commerce firm Coupang is trading 70 percent below its listing price. Ridehailers Didi Global Inc. and Grab Holdings, also tumbled during the January–March quarter.
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