Softbank was an investor in Sam Bankman-Fried’s FTX cryptocurrency platform, which cost it $97 million. Issei Kato/REUTERS
The notable absence of its CEO Masayoshi Son reinforces questions about strategy.
His absence was greatly felt. For the first time, the very media CEO Masayoshi Son did not present the quarterly results of SoftBank Group. He had justified this decision, announced last November, by the desire to disengage from the management of daily operations to concentrate his energy on the designer of British microprocessors Arm. It is therefore only that the financial director, Yoshimitsu Goto, had to explain the new poor performance of the Japanese conglomerate. For the fourth quarter in a row, its investment funds Vision Fund 1, 2 and LatAm posted losses of 4.2 billion euros (600 billion yen) between November and December. Over the quarter, the total net loss reached 5.5 billion euros. “These losses reflect the decline in share prices of a wide range of portfolio companies“said Yoshimitsu Goto. The rise of certain listed technology stocks in its impressive portfolio…
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