Softbank group today released the fourth quarter financial report of fiscal year 2021 as of March 31, 2022, with a net loss of 2.1 trillion yen (about US $16.2 billion), the largest quarterly net loss in history.
This is mainly because the downturn in technology stocks has weakened the value of Softbank's global portfolio. Compared with the profit of 1.9 trillion yen a year ago, Softbank has undergone a dramatic change. Son Zhengyi, chief executive of Softbank group, said that compared with last year, the amount of investment will be halved or one quarter.