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Japan’s SoftBank Group marks a return to profit as it cuts Vision Fund losses

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Published 3:02 AM

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Japanese technology conglomerate SoftBank Group has returned to profitability after four straight quarters in the red. Tokyo-based SoftBank reported a 950 billion yen, or $6.4 billion, profit for the October-December quarter. Quarterly sales rose nearly 5%. SoftBank, which invests in companies such as Yahoo Japan, T-Mobile and Line, said it reduced losses related to its array of investments called the Vision Fund. Some of those losses came from its holdings in Alibaba, a Chinese technology company. The company, led by visionary billionaire Masayoshi Son, has also invested in WeWork, which has filed for Chapter 11 bankruptcy protection.

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