SoftBank Group logs net loss of 1.71 tril. yen in FY 2021

SoftBank Group Corp. said Thursday it posted a net loss of 1.71 trillion yen ($13 billion) in the business year ended in March on investment losses after logging the highest profit for a Japanese company the previous year.

The result was a nosedive from the record net profit of 4.99 trillion yen in fiscal 2020, as the values of global tech firms the company invested dropped on their poor business performances amid the coronavirus pandemic.

SoftBank Group logged an investment loss of 3.43 trillion yen in the year.

© Kyodo News