TOKYO (Reuters) – Shares of SoftBank Group Corp fell as much as 3.85% in early trade on Friday, after the Japanese technology investor posted an annual loss that was more than three times as big as market expectations.
SoftBank on Thursday reported a net loss of 970 billion yen ($7.18 billion) for the year ended March 31 amid hefty investment losses at its Vision Fund investing arm.
That compared with a 1.7 trillion yen loss a year earlier, but was far bigger than analysts’ average estimate of a 265 billion yen loss.
($1 = 135.0500 yen)
(Reporting by Kiyoshi Takenaka; Editing by Jacqueline Wong)
