Japan's SoftBank Group Corp on Thursday posted a sharply narrower annual loss after a capital raise using its stake in Alibaba Group Holding Ltd helped cushion investment loss at its Vision Fund investing arm.
SoftBank wrote down the value of private portfolio companies in both the first and second funds. At the end of March, the second fund's portfolio was worth $31 billion compared with an acquisition cost of $49.9 billion., putting investing activity on the backburner with the Vision Fund unit striking just 25 new deals over the past year.
With the uptick in some tech stock prices, investor attention has turned to how long SoftBank will maintain its holding pattern.
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