Japan’s SoftBank Group trims investment losses but remains in red for fiscal year

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Japanese technology company SoftBank Group says it trimmed its losses for the fiscal year through March to about a quarter of the red ink it racked up a year earlier, as investment losses declined. SoftBank Group said Monday that its annual sales rose 2.8%, while losses for the fiscal year declined to 227.6 billion yen, or $1.5 billion, from a 970 billion yen loss in the previous year. SoftBank recorded its second straight quarterly profit in January-March. Investment losses for the fiscal year that just ended included Alibaba, a Chinese technology company with e-commerce, cloud computing and digital media operations, that detracted from gains from its holdings in T-Mobile.