“Soft Vision” achieves its first annual gain in 3 years, amounting to $4.6 billion

SoftBank reported gains of 724.3 billion yen ($4.6 billion) in its Vision Fund in the fiscal year ending in March. For the full fiscal year, SoftBank’s Vision Fund segment earned 128.2 billion yen, swinging to a profit after a loss of 4.3 trillion yen the previous year.

The Vision Fund’s recovery helped SoftBank Group achieve profit in the fourth fiscal quarter, according to CNBC. The Vision Fund was helped by raising the value of some of SoftBank’s most high-profile investments, including TikTok owner ByteDance and US food delivery company DoorDash.

SoftBank has taken a hit on some of its other investments, such as Chinese ride-hailing company Didi, as well as office-sharing company WeWork, which filed for Chapter 11 bankruptcy protection last year.

The Japanese company said that gains related to the initial public offering of ARM, a subsidiary of SoftBank, were not included in the “consolidated statement of profit or loss.”

Excluding gains associated with the Vision Fund’s investments in its subsidiaries, the technology investment arm recorded a loss of 167.3 billion yen.

However, there are signs that a recovery is underway for SoftBank, which has been hurt by bad bets on some technology companies as well as volatile markets.