SoftBank's Vision Fund back to black even as some of Son's tech bets sting

By Sam Nussey
TOKYO (Reuters) - Japan's SoftBank Group Corp on Monday reported $6.1 billion in quarterly profit as a broad upswing in tech valuations brought its mammoth Vision Fund back into positive territory.
The Vision Fund recovery is likely to be welcome news for investors unnerved by some of SoftBank's recent stumbles, even as overall earnings were tainted by a $1.3 billion hit from bets on technology stocks and derivatives.
Founder Masayoshi Son had long enjoyed a reputation for investing prescience - he was an early backer of Chinese e-commerce giant Alibaba Group Holding Ltd - but that was tarnished after the spectacular flame-out of portfolio company WeWork and missteps during the pandemic.
"I'm not that hung up on the numbers," Son said of the group's earnings at a briefing on Monday, ...


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