SoftBank’s shares slump on quarterly loss

Japanese investment group SoftBank’s technology funds have struggled, not least because of an investment in WeWork.

Shares in Japan’s investment company SoftBank Group slid by almost a tenth after it “sank deeper into the red” in the third quarter, says Megumi Fujikawa in The Wall Street Journal. Its technology investments “struggled”. The Vision Fund 1 made a small profit of £2.4bn.

However, this was outweighed by losses from other Vision Fund vehicles and $1.6bn in losses related to its stake in and financial support for WeWork, one of its most high-profile investments, which has just filed for bankruptcy. The Vision Funds investment unit posted a $1.7bn loss, with SoftBank as a whole losing $6.2bn.

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Dr Matthew Partridge
Shares editor, MoneyWeek

Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.

He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.

Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.

As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.

Follow Matthew on Twitter: @DrMatthewPartri