Finance

SoftBank reports $37 bln Vision Fund profit on Coupang

1 minute read
  • Vision Fund gains "validation" of SoftBank thesis -exec
  • "Significant value to be unlocked" from further listings -exec
  • SoftBank hikes VF2 commitment to $30 billion
  • No decision on further buybacks -Son
  • Group recorded Y233 bln loss on listed stocks, derivatives

TOKYO, May 12 (Reuters) - (This May 12 story corrects to show figure is annual profit not quarterly)

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The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato

SoftBank Group Corp (9984.T) on Wednesday reported a 4.027 trillion yen ($36.99 billion) profit at its Vision Fund unit after booking a fourth-quarter gain on investment Coupang , underscoring its recovery a year after a record loss.

($1 = 108.8600 yen)

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Reporting by Sam Nussey; Editing by Kim Coghill

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