The company's total commitments across the Vision Funds 1 and 2 and its LatAm fund is $166.2 billion, with acquisition costs calculated at $146.6 billion and the fair value of the assets currently at $140.3 billion. The Latin American business saw a boost largely from the sale of Pismo, a SoftBank portfolio company, to Visa for $1 billion in June. However, share price declines in holdings in Alibaba, Deutsche Telekom, and T-Mobile US further dragged down SoftBank's overall total loss on investments in the quarter to 699 billion yen (around $4.9 billion).
Key takeaways:
- SoftBank Group posted an unexpected consecutive quarterly overall loss, with its Vision Fund 1 and 2 and its Latin American fund together posting a quarterly investment loss of 13 billion yen ($91 million).
- The company's total commitments across the Vision Funds 1 and 2 and its LatAm fund is $166.2 billion, with acquisition costs calculated as $146.6 billion, and fair value of the assets currently as $140.3 billion.
- SoftBank's Latin American business had a boost largely from the sale of Pismo, one of SoftBank’s portfolio companies, to Visa for $1 billion in June.
- SoftBank's Japanese subsidiary launched a new business called SB Intuitions, which will build a Large Language Model and generative AI services focused specifically on Japanese and Japan’s businesses and consumers.