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SoftBank reports record quarterly net loss of ¥3.16 trillion

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SoftBank's big stakes in global tech giants and volatile new ventures have made for unpredictable earnings, and it has lurched between record highs and lows in recent years.

Don't worry Softbank shareholders!! A couple of weeks ago Kishida under one of his main initiatives of "New Capitalism" announced a new Minister and government (taxpayer) support of venture capital!

So the the Japanese taxpayer has this loss!

Since I am a shareholder now could you shave any dividends off my next phone bill?

5 ( +9 / -4 )

MBS of Saudi fame is not going to be happy...

2 ( +2 / -0 )

very good!!

3 ( +3 / -0 )

takes money to make money, nothing new

1 ( +3 / -2 )

I think there is nothing to worry about the Japanese Government will bailout Safebank.

2 ( +5 / -3 )

It may experience one or two bad years, but over a decade or more, the world economy will keep growing and it could grow further."

They still don’t hear the bells ringing. Although capitalism is nothing else than growth at all costs, so far they are right in theory, but we are now in the era of aging, depopulation, decreases of everything, of course economic activities included. And that not at normal downturn speed but even accelerated and triggered by GX, carbon neutrality, systemic conflicts between the global blocks, leading to less global trade, cooperation and search for more valid options, because for the capitalism of the West such massive decreases and artificial economic strangling won’t work at all, because it simply can’t as growth is the one and only rule.

0 ( +0 / -0 )

nothing to worry about the Japanese Government will bailout Safebank

In other words, whether they’re happy to or not, the Japanese people will bail it out. Same old, same old.

-1 ( +2 / -3 )

The end is near.

Give away all your belongings.

-3 ( +1 / -4 )

I'm sure they can afford it. Rate hikes to your customers solve everything.

1 ( +2 / -1 )

I'm sure they can afford it. Rate hikes to your customers solve everything.

What customers? The mobile phone branch is only a microscopically small hobby of them. They are mainly in chipmakers like ARM or other participations and investments like into Alibaba and a long list of rather unknown startups with oh so much future (probably not much future at all) or operating in grey zones. If a bigger hedge fund comes around and gets them into focus or develops own appetite, then they are history at once.

0 ( +0 / -0 )

white dog ads did not help???

0 ( +2 / -2 )

And what is happening with WeWork. Softbank was a major player there.

-1 ( +0 / -1 )

“And what is happening with WeWork?”

A few wrong bets and things are suddenly looking decidedly shaky for the man who once seemed to have the Midas touch and could do no wrong. At the rate he’s hemorrhaging money, things may be about to get really interesting.

https://www.dailymail.co.uk/news/article-10809085/Japans-SoftBank-sees-26BILLION-wiped-notorious-Vision-Fund-invested-WeWork.html

https://www.nytimes.com/2022/02/10/business/softbank-masayoshi-son-marcelo-claure.html

0 ( +1 / -1 )

Many businessmen take a risk, and it pays off, and they then let their egos tell them that because they were correct in their risk, then they are always correct about everything.

Son took a risk that paid off really well - investing in Alibaba - but went on to ma,e some really bad decisions; The WeWork one is about as bad as it gets. I have to wonder if his ego didn't get the best of him

1 ( +1 / -0 )

Given that the EU/US sanctions have pushed up the price of fossil fuel, I doubt SoftBank's fossil-rich backers will be too fussed.

Quote: the world economy will keep growing.

Because if you keep damaging something it will thrive in response?

Quote: it sees the latest price hikes as temporary.

Hmm. Having wiped out $44bn annual income from tourism, with chip supplies hammering its primary exports, the government of a nation heavily dependent upon imported fuel and food, sees the future as rosy? Now that's what I call optimism.

0 ( +1 / -1 )

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