The SoftBank Group reported $ 6.1 billion in quarterly profit on Monday, with high valuations from tech companies bringing their Vision Fund back into positive territory.
The Vision Fund recovery is welcome news for investors nervous about some of SoftBank’s recent setbacks, despite $ 1.3 billion in tech and derivatives stocks impacted by earnings.
SoftBank reported net income attributable to shareholders of 627 billion yen ($ 6.1 billion) for the three months ended September, compared with a loss of 700 billion yen in the same period last year.
The company made a quarterly profit of ¥ 1.04 trillion from investments through its two Vision funds, although most of that amount represents unrealized gains from portfolio companies. The figure is comparable to a loss of 944 billion yen a year earlier.
According to him, the value of the first fund now stands at about $ 76.4 billion, which is slightly more than the $ 75 billion paid for its 83 investments.
The second, smaller fund has grown strongly since the listing of real estate company Ke Holdings. The fair value of this fund was $ 7.6 billion with a total value of $ 2.6 billion, according to SoftBank. SoftBank itself is the only investor in the second fund.