Quarterly earnings were virtually wiped out, according to SoftBank Group.
The Japanese investment giant made a profit of just $ 24 million in the third quarter.
That is a fraction of the same period a year ago.
Profits were wiped out by a loss of just over $ 2 billion in the flagship Vision Fund, which invests in technology companies.
The results of Wednesday (February 12th) cast a deeper shadow on the founder Masayoshi Son.
Investors were already wondering if they should put money into his next company, Vision Fund 2.
It had previously attracted over $ 100 billion in commitments.
But Son's reputation had already hit the WeWork debacle.
The US office sharing company – a big SoftBank bet – had to be saved after an unsuccessful IPO.
Now Son says that the company has gone around the corner and points to a price recovery of some investments.
However, he also admitted to reducing Vision Fund 2, which has currently not attracted any external investments.
Disclaimer: Fusion Media would like to remind you that the data contained on this website is not necessarily real-time or correct. All CFDs (stocks, indices, futures) and forex prices are not provided by exchanges, but by market makers. Therefore, prices may not be accurate and may differ from the actual market price. This means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trade losses that you may incur from using this data.
Fusion Media or persons dealing with Fusion Media are not liable for any loss or damage caused by reliance on the information contained on this website such as data, offers, diagrams and buy / sell signals. Please be fully informed about the risks and costs associated with trading on the financial markets. This is one of the most risky forms of investment that is possible.