By Kosaku NariokaSoftBank Group reported a narrower fiscal-year net loss, helped by a recovery in its technology funds business. The Japanese tech investment company said Monday that it booked a net loss of 227.65 billion yen ($1.46 billion) for the year ended March, compared with a Y970.14 billion net loss the previous year. The result was worse than the estimated Y99.3 billion profit in a poll of analysts by data provider Visible Alpha. SoftBank's Vision Funds business posted a profit of Y128.18 billion, compared with a loss of Y4.308 trillion the previous year. That marked its second consecutive quarterly profit but was below the estimated net profit of Y417.4 billion in the Visible Alpha poll.

Source: Wall Street Journal May 13, 2024 07:34 UTC