Page 5 - Softbank Group

SoftBank likely to turn profitable after $48 bn in vision fund losses

The Japanese conglomerate is fighting to regain its footing after losing ¥6.9 trillion ($48 billion) at the Vision Fund investment unit in the last two fiscal years

SoftBank forms $100 mn JV to build AI-powered warehouses with Symbotic

Shares of Symbotic rose 1.3% on Monday, while SoftBank closed 1.2% higher on the Tokyo bourse before the news

E-scooter maker Ola Electric targeting $1.5 billion sales this year

In June, industry-wide Indian sales of e-scooters more than halved from May to a six-month low of 45,800 units, government data showed

Softbank-backed Unicommerce records 50% growth in revenue in FY23

Softbank-backed Saas platform Unicommerce has registered a 50 per cent growth in revenue driven by onboarding of new clients and international expansion, a senior company official said. Unicommerce CEO Kapil Makhija told PTI that the company has achieved an annual run rate of processing over 600 million transactions amounting to over USD 7 billion in annual gross merchandise value. He said that the company's growth has been consistent over the past three years and expects it to remain aligned to the expansion of the e-commerce industry in India. "Unicommerce's platform has demonstrated remarkable performance with around 50 per cent revenue growth in the financial year 2023. The number of enterprise clients has grown significantly, with a 45 per cent increase in FY'23 and a 68 per cent growth in FY'22," Makhija said. In its RoC (Registrar of Companies) filing for FY'22, the company reported a 47.5 per cent increase in operating revenue to Rs 59 crore in FY 22. Its profit after tax

SoftBank sells another 2% stake in Paytm; holding slips below 10%

Japanese investor has monetised $900 million to $1 billion on a total investment of $1.6 billion: Sources

SoftBank offloads 2% stake worth $120 million in Paytm to meet SEBI rules

This was done in a series of open market transactions since Feb 2023 to comply with Sebi's takeover regulations

Son owes SoftBank $5.2 bn on side deals post losses at Vision Fund unit

His unrealized losses widened by about $130 million from three months before, with most of the deficit linked to the Latin America fund

Japan tech investor SoftBank Group sinks into second year of losses

Japanese technology investor SoftBank Group reported Thursday a loss of 970 billion yen (USD 7 billion) for the fiscal year that just ended the second year in a row of red ink. Tokyo-based SoftBank Group Corp. racked up a 1.7-trillion-yen (USD 13-billion) loss the previous fiscal year. The latest results came from massive losses on its investments, called the SoftBank Vision Fund, amid a global plunge in technology shares. The gains from transactions in Chinese e-commerce giant Alibaba were not enough to offset the investment losses, the company said in a statement. Sales for the fiscal year, which ended in March, rose 6 per cent from the previous fiscal year to 6.57 trillion yen (USD 49 billion). SoftBank invests in a sprawling array of companies, including Uber, DoorDash, T-Mobile and Arm. But the value of its holdings declined during various economic uncertainties, including the US banking crisis and Russia's invasion of Ukraine, according to SoftBank. The company, which was

SoftBank-owned Arm plans to build its own prototype semiconductor

The SoftBank Group Corp-backed company's newest chip, on which it started work in the past six months, is "more advanced" than ever before, FT said, citing industry executives

Credit Suisse files long-awaited $440 million lawsuit against Softbank

The Swiss lender sued SoftBank in London earlier this month, saying it planned to focus on maximizing recovery for investors in its supply chain finance funds

IPO-bound OYO to expand its US presence with over 100 new hotels this year

New hotels planned in Oregon, Washington, Texas, Oklahoma, Georgia and Florida

Softbank-backed Oyo confidentially 'pre-files' for Indian IPO: Report

The company initially filed to go public in 2021, aiming for an IPO size of 84.3 billion Indian rupees ($1.02 billion), but delayed the share sale at that time

Edtech unicorn Unacademy lays off 380 employees in latest round of job cuts

The Softbank-backed start-up last laid off 350 employees in November

Japan's SoftBank Group logs $5.9 bn loss as tech investments tumble

Japanese investor SoftBank Group reported Tuesday that it sank into a deep loss for the October-December quarter, slammed by the global plunge in technology shares. SoftBank Group Corp. racked up a 783 billion yen (USD 5.9 billion) loss for the fiscal third quarter, a reversal from the 29 billion yen profit recorded the same period a year ago. SoftBank invests in hundreds of companies, including mobile carrier SoftBank, web services provider Yahoo, vehicle-for-hire company Didi and Chinese e-commerce giant Alibaba. It also runs the Vision Fund that includes other global investors. SoftBank Group recorded nearly 512 billion yen (USD 3.9 billion) in losses on investments during the quarter, as prices of its shareholdings and funds nose-dived, it said. Various uncertainties have slammed Japanese companies recently, such as soaring material costs and rising interest rates. Tensions such as the war in Ukraine have also added to what tends to work as negatives for SoftBank's sprawling ..

SoftBank CEO Masayoshi to skip earnings call for first time as tech slumps

The founder and chief executive of the world's largest tech investor bade farewell in November to the earnings presentations he's led for decades

India's fintech industry to face a tough 2023 as investments cool: Bain

This year, the Indian regulator, spurred by fraud and malpractice instances in the fintech lending space, stepped up its oversight to regulate it through a series of guidelines

SoftBank-backed Cars24 eyes small towns to sell used cars in India

The company more than doubled its India revenue in 2022 to Rs 6,008 crore from Rs 2,776 crore in 2021

Softbank halves stake in Policy Bazaar parent, mops up Rs 1,043 crore

Sells 22.84 million shares, or 5.08% stake, at Rs 456.4 apiece; 30 institutional investors among buyers

PB Fintech surges 6% after 5% equity changes hands on the NSE

Around 22.84 million shares representing 5 per cent of total equity of PB Fintech worth of Rs 1,042.53 crore changed hands in pre-open deals on the NSE today, the exchange data shows.

SoftBank plans to sell 5% stake in PB Fintech via block deal: Report

The block deal on Friday could be at a base price of 440 rupees per share, CNBC-TV18 said in a tweet. PB Fintech's shares closed at 461 rupees on Thursday