New Analysis Amid a grim outlook of the Chinese economy, particularly its technology sector, foreign investors have been cashing out their gains on Chinese stocks, fearing their values might plummet further. Meanwhile, some investors have turned their attention to Taiwanese tech firms. Berkshire Hathaway, Warren Buffett’s investment firm, has reduced its holdings of BYD, a…
Investors Worldwide Further Reduce Stakes in Chinese Tech Firms, Some Shift Investment to Taiwan
December 26, 2022
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SoftBank CEO ‘Remorseful’ After Record $23.4 Billion Quarterly Loss
August 18, 2022
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News Analysis Japanese tech investment giant SoftBank Group has decided to sell one-third of its Alibaba stake to raise $34 billion in cash, following a record $23.4 billion loss in the second quarter. Founder and CEO Masayoshi Son admitted at a press conference that he is “quite embarrassed and remorseful.” Furthermore, China’s regulatory crackdown on…
Japan Tech Giant SoftBank Posts $23 Billion Quarterly Loss
TOKYO—Japanese technology company SoftBank Group posted a $23.4 billion loss in the April–June quarter as the value of its investments sank amid global worries about inflation and interest rates. SoftBank Group Corp.’s loss of 3.16 trillion yen was a reversal from its 762 billion yen profit in the same quarter a year earlier. Quarterly sales…
Stephen Moore on New Democrat Spending Bill; SoftBank Has Record Quarterly Net Loss | NTD Business
The biggest climate bill in U.S. history is heading to the House after passing in the Senate. Economist Stephen Moore joins us for analysis. Japan’s SoftBank posts one of its biggest losses in history. Now, it’s selling its shares in some major companies. Tesla could lose its license to make and sell cars in California….
Face-Recognition Business Puts SoftBank Between China, US
July 9, 2022
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TOKYO—A SoftBank-owned company is thriving by offering face-recognition technology fuelled by a blacklisted Chinese firm to the likes of Mastercard and Visa, an opportunity for the Japanese conglomerate, fraught with geopolitical and privacy risks. Japan Computer Vision Corp. (JCV), owned by SoftBank Group Corp.’s wireless unit, has struck deals on payments in recent months, a…
SoftBank Overseas Business Chief Exits in Latest Churn
TOKYO—Japan’s SoftBank Group Corp. said on Wednesday it has appointed Alex Clavel as chief executive of its SoftBank Group International (SBGI) unit, replacing Michel Combes who leaves after just six months in the role. SoftBank transformed the tech industry with big bets on late-stage startups but the conglomerate has turned over much of its executive…
SoftBank Vision Fund Posts $26 Billion Loss; Son Pledges Defense
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…
SoftBank Latin America Fund Loses Key Managing Partners: Bloomberg
SoftBank Group Corp. Latin America Fund managing partners Shu Nyatta and Paulo Passoni looked to depart to start their own venture business focused on late-stage startups in the region, Bloomberg reports. They expressed their excitement about becoming entrepreneurs acknowledging SoftBank’s role in their careers. The report noted SoftBank looks to promote the LatAm fund’s third managing…
SoftBank Faces Investment Difficulty in China as US Bans Chinese Military Firms
News Analysis Japanese investment giant SoftBank has been bracing for successive financial losses in China, not only because of China’s tighter regulations, but also because its investment business in China’s artificial intelligence technology sector has fallen into the realm of the latest U.S. ban on the Chinese military. U.S. Treasury Department announced on Dec. 10…
SoftBank SPAC to Take Walmart-Backed Symbotic Public in $5.5 Billion Deal
Walmart Inc.-backed Symbotic said on Monday it would go public through a merger with a SoftBank Group Corp. blank-check firm in a deal offering the robotics and automation startup a pro-forma equity value of $5.5 billion. The deal with SVF Investment Corp. 3 is supported by a private investment in public equity of $205 million…
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