TOKYO, Aug. 7 (Xinhua) -- Japan's SoftBank Group on Wednesday reported 174.28 billion yen (about 1.2 billion U.S. dollars) in net losses for the three months ending in June, marking its third consecutive year of losses for the quarter.
The net loss narrowed from the 477.62 billion yen recorded a year earlier when the company sustained a massive loss from investments through its Vision Fund.
Meanwhile, revenue rose 9.3 percent from a year earlier to 1.70 trillion yen in the April-June quarter, the Japanese investment giant said.
The company booked a profit of 559.71 billion yen in its investment operations, a major improvement from a loss of 698.96 billion yen a year earlier, thanks to a rise in share prices of tech firms it invested in, such as Bytedance Ltd., the operator of short-video app TikTok and South Korean e-commerce giant Coupang Inc.
However, SoftBank Group incurred a foreign currency loss of 443.91 billion yen, as the yen's depreciation increased the burden of its U.S. dollar-denominated debts. ■
