Japan’s SoftBank has just handed over a record poor financial report, with a group loss of $13.15 billion (about 89.2 billion yuan) in the last fiscal year.
On closer inspection, it is all thanks to its two Vision Funds, which have lost a total of $27.4 billion.
To this,Masayoshi Son had to decide to “close his hands”. He said that SoftBank would tighten its belt and enter defensive mode, which is to ensure cash flow, and at the same time would no longer invest arbitrarily. He even said that it would shrink by 50-75% in the next fiscal year. angel investment projects.
It is understood that the Vision Fund has invested in a large number of Internet technology companies, including DoorDash, Alibaba, WeWork, NVIDIA, Uber, ByteDance, etc. However, due to geopolitical factors, inflation, epidemics, regional policies and many other factors, at least this past Years, the income is particularly unsatisfactory.
However, Sun Zhengyi is slightly relieved that the subsidiary ARM has performed well in the past year. Although it failed to sell to NVIDIA, its revenue has increased by 35%, and 29.2 billion chips have been shipped.
In addition, he also said that the ARM China turmoil is the only obstacle to the ARM IPO and is being effectively resolved. In addition, even if ARM eventually goes public, SoftBank will become a major shareholder.
Hashtags: Masayoshi Son Softbank ARM
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