SoftBank posts record quarterly gain in Vision Fund tech arm at $3.96 billion

Japanese tech giant SoftBank reported a gain of 608.5 billion yen ($3.96 billion) in the technology investment arm of its Vision Fund in the second quarter of the fiscal year ended Sept. 30, marking a sharp quarterly increase after a decline in the three months through June.

The broader Vision Fund, which also takes into account non-investment performance such as administrative expenses and gains and losses attributed to third-party investors, posted a gain of 373.1 billion yen. It had reported a loss of 204.3 billion yen in the company’s fiscal first quarter.

The company attributed the lion’s share of the increase to valuation gains in its first Vision Fund, according to CNBC, citing higher share prices of e-commerce company Coupang and Chinese transportation giant Didi Global, as well as a rise in the value of its investments in Chinese technology company ByteDance.

Meanwhile, the Vision Fund 2 posted a net loss of 232.6 billion yen, following a decline in stock prices including Norwegian robotics company Autostore and U.S. automation technology company Symbotech. The Vision Fund benefited from the successful listing of smartphone chip designer Arm Holdings in September 2023, in which it holds a majority stake of about 90%.