SoftBank Group reports decrease in investment losses but remains in red for fiscal year

SoftBank Group, a Japanese technology company, reduced its losses for the fiscal year ending in March. The losses dropped to 227.6 billion yen ($1.5 billion) from 970 billion yen the previous year. This improvement was due to decreased investment losses. The company invests in artificial intelligence, robotics, and autonomous driving. In the January-March quarter, SoftBank Group made a profit of 231 billion yen ($1.5 billion), marking its second consecutive profitable quarter. This turnaround followed four quarters of losses. The company's investment losses for the year included setbacks from Alibaba but gains from T-Mobile. The value of Arm, a British semiconductor company owned by SoftBank, has increased significantly. SoftBank's Vision Fund, which includes investments like WeWork and ByteDance, experienced both losses and gains. The company's founder, Son, is focusing on AI initiatives for the future. Despite recent losses, SoftBank remains optimistic about the performance of its Vision Fund investments. Arm Holdings, a key asset for SoftBank's AI ambitions, has seen a surge in valuation. However, this increase has not yet impacted SoftBank's profits. The company is hopeful that Arm will drive its AI strategy forward. SoftBank's CFO emphasized the importance of Arm in creating a new AI ecosystem within the company. Overall, SoftBank reported a net profit of 328.9 billion yen ($2.11 billion) in the final quarter of the financial year. The company is navigating challenges in realizing its AI goals but remains positive about the future. Investors are closely watching the performance of Arm Holdings and other key investments in SoftBank's portfolio.