SoftBank books narrower loss after Alibaba stake sell-down

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Reuters UK

By Sam Nussey and Kiyoshi Takenaka TOKYO (Reuters) -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 reported a net loss of 970 billion yen ($7.18 billion) for the year ended March 31, compared with a 1.7 trillion yen loss in the same period a year earlier. CEO Masayoshi Son’s attempt to bestride the tech investing industry has suffered a series of high-profile reversals after outsized bets through SoftBank’s first Vision Fund…

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