Softbank's Vision Fund logs highest profit in 3 years in Dec-2023 quarter

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Softbank's Vision Fund extended its recovery after incurring record losses in the previous fiscal year. The fund achieved its highest profit in nearly three years in December quarter.

According to the financial report issued today, Feb. 8, the Vision Fund reported investment profits of JPY 600.7 billion (above $4 billion) in Q4 2023, hitting the highest level since quarter ended March 31, 2021.

Meanwhile, SoftBank posted net sales of JPY 1.77 trillion in Q4 2023, down from expectations of JPY 1.8 trillion.

Softbank's net income reached JPY 950 billion, compared to JPY 196.5 billion expected during the same period.

Accordingly, SoftBank achieved its first quarterly profits after losses extending over a year, while the Vision Fund posted profits over the last three quarters.