SoftBank's Vision Fund posts $2b profit in Q1, share weakness casts shadow

SoftBank's Vision Fund posts $2b profit in Q1, share weakness casts shadow

REUTERS/Issei Kato

SoftBank Group Corp’s Vision Fund unit on Tuesday posted a 236 billion yen ($2.14 billion) profit in the first quarter after gains from listing portfolio companies were offset by falling shares in firms like e-retailer Coupang Inc.

The Japanese conglomerate posted record annual profit in May with executives pointing to the further upside from Vision Fund investments such as Chinese ride-hailing firm Didi Global Inc and “Uber for trucks” startup Full Truck Alliance Co Ltd.

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