SoftBank FY23 Loss Narrows, Vision Funds Reports ¥5TN Loss - SoftBank Group (OTC:SFTBF)

SoftBank Group Corp SFTBF reported FY22 net sales increase of 5.6% Y/Y to ¥6.57 trillion.
The company reported a net loss of ¥(970) billion, which narrowed from the loss of ¥(1.71) trillion in the previous year.
Cash and cash equivalent stood at ¥6.93 trillion at the end of the fiscal year.
SoftBank's total loss on investments stood at ¥(835) billion in the year versus ¥3.43 trillion last fiscal year.
SoftBank witnessed ¥(5.32) trillion investment loss at SoftBank Vision Funds, with shares of several public portfolio companies declining on weak stock markets globally and decreasing fair value of several private portfolio companies.
Also, the company reported an investment gain of ¥4.56 trillion from the Investment Business of Holding Companies, including a gain of ¥4.84 trillion relating to the settlement of prepaid forward contracts using shares of Alibaba Group Holding Ltd BABA.
SoftBank moved to pare almost its entire stake in Alibaba Group in April, limiting exposure to China.
Post-end-FY, SoftBank announced a deal with Nasdaq to list chip designer Arm Ltd.
Repurchase: SoftBank repurchased shares worth ¥1.4 trillion in the fiscal year.
Price Action: SFTBF closed higher by 0.18% at $38.03 on Wednesday.