Japan's SoftBank Group logs $5.9 bn loss as tech investments tumble
TOKYO, Feb 07 (business-standard.com) -
Japanese investor SoftBank Group reported Tuesday that it sank into a deep loss for the October-December quarter, slammed by the global plunge in technology shares.
SoftBank Group Corp. racked up a 783 billion yen (USD 5.9 billion) loss for the fiscal third quarter, a reversal from the 29 billion yen profit recorded the same period a year ago.
SoftBank invests in hundreds of companies, including mobile carrier SoftBank, web services provider Yahoo, vehicle-for-hire company Didi and Chinese e-commerce giant Alibaba. It also runs the Vision Fund that includes other global investors.
SoftBank Group recorded nearly 512 billion yen (USD 3.9 billion) in losses on investments during the quarter, as prices of its shareholdings and funds nose-dived, it said.
Various uncertainties have slammed Japanese companies recently, such as soaring material costs and rising interest rates. Tensions such as the war in Ukraine have also added to what tends to work as negatives for SoftBank's sprawling portfolio of investments. ...continue reading
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Reuters - Apr 01
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beincrypto.com - Mar 28
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Japan inflation slows sharply, masking underlying price strength
Bloomberg - Mar 24
Japan’s inflation slowed for the first time in more than a year, as government energy subsidies masked the stronger underlying trend ahead of the Bank of Japan’s first leadership change in a decade.
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Reuters - Mar 23
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NOJ / TV Asahi - Mar 23
Suntory has announced that it will raise the prices of 11 domestically produced whisky brands, including Kakubin, starting July 1.
Hokusai's 'Great Wave' print sells for record $2.8m in New York
Nikkei - Mar 23
One of the most famous of Japan's ukiyo-e woodblock prints has sold for $2.76 million at the Christie's auction house in New York, a record for a print by Katsushika Hokusai.
Japan land prices recover from COVID to rise fastest in 15 years
Nikkei - Mar 23
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Toyota to end Camry sales in Japan, ending 43-year history
Nikkei - Mar 23
Toyota Motor plans to discontinue sales of the Camry sedan in the Japanese market, focusing on countries where the automaker's 43-year-old flagship model remains popular.
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BOJ's paper loss on bond holdings spikes tenfold
Nikkei - Mar 18
The Bank of Japan's paper loss on Japanese government bond holdings grew more than 10 times at the end of last year from three months earlier as rises in long-term rates undercut the value of the assets.
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Bloomberg - Mar 17
Ken Shibusawa, a member of Japanese Prime Minister Fumio Kishida's new capitalism panel and chairman of Commons Asset Management, discusses the challenges the economy, the government and the central bank face.
Hot spring baths block Japan's geothermal potential
AFP - Mar 16
The hot springs at Tsuchiyu Onsen are beloved by bathers but also power a small geothermal plant, making use of an abundant yet barely tapped green energy source in Japan.
