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SoftBank shares fall 5% after annual loss

Published 05/11/2023, 08:23 PM
Updated 05/11/2023, 08:56 PM
© Reuters. FILE PHOTO: SoftBank Corp's logo is pictured at a news conference in Tokyo, Japan, February 4, 2021. REUTERS/Kim Kyung-Hoon/File Photo

TOKYO (Reuters) -SoftBank Group Corp's shares tumbled 5% in early trade on Friday after the Japanese technology investor reported an annual loss as the value of its portfolio slid.

© Reuters. FILE PHOTO: SoftBank Corp's logo is pictured at a news conference in Tokyo, Japan, February 4, 2021. REUTERS/Kim Kyung-Hoon/File Photo

SoftBank reported a net loss of 970 billion yen ($7.18 billion) after a sell-down of its stake in Chinese e-commerce giant Alibaba (NYSE:BABA) Group Holding Ltd helped cushion investment loss at its Vision Fund unit.

($1 = 135.0500 yen)

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