Japan’s SoftBank Group on May 12 reported a net loss of 1.7 trillion yen ($13 billion) for the fiscal year ended March 31 2022
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After Tiger portfolio rout and now SoftBank massive loss. Tough times as these two are among the biggest investors in Indian startups
https://www.moneycontrol.com/news/business/star...
Japan’s SoftBank Group on May 12 reported a net loss of 1.7 trillion yen ($13 billion) for the fiscal year ended March 31 2022, as the Japanese conglomerate’s listed portfolio companies were hit hard by falling tech valuations across the globe with investors pricing in interest rate hikes and China tightening regulations on the industry. According to Reuters estimates, SoftBank’s Vision Fund investment unit posted a record loss of over 2.97 trillion yen for the Jan-Mar quarter hitting the Japanese investment conglomerate’s profits for the year. The Masayoshi Son-led investment firm had reported a net profit of 4.99 trillion yen ($38 billion) for the previous fiscal year, with the Vision Fund unit clocking a profit of about 4.03 trillion yen. Shares of South Korea’s Coupang Inc and China’s Didi Global, two of SoftBank’s biggest portfolio companies, have plummeted in the Jan-Mar quarter, dragging the Japanese investment conglomerate into losses for the year. Coupang Inc’s shares are trading 70% below its listing price. SoftBank’s $8.2 billion investment in Coupang is currently valued at around $2.2 billion, according to the financials. To be sure, Coupang Inc and Didi Global are not the only two. Globally, shares of high-growth technology companies have fallen with public shareholders raising concerns over their paths to profitability. In India, Paytm’s parent One97 Communications Ltd, and PolicyBazaar’s parent PB Fintech Ltd, which are among SoftBank’s largest portfolio companies in the country, are trading much lower than their listing prices, hitting the Japanese conglomerate’s financials. SoftBank’s $1.4 billion investment in Paytm, currently has a fair value of around $800 million, while the Japanese conglomerate’s $400 million investment in PB Fintech has a fair value of around $100 million.
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 for the fiscal year ended March 31 2022 for Rs. at ){kind=link}
indian tech companies and investments are joke.
our educational and other support systems can only make service companies.
some good brains if left drain to foreign destinations. Jai bheem. Jai congi, jai bjp, jai all parties. We cannot build backbones but can repair if built within our ability.