SoftBank shares plunged overnight after it reported more heavy losses from its Vision Fund investment arm on Friday.
The fund, which contains Softbank’s holding in UK chip designer ARM Holdings, racked up a loss of Y1.38trn (US$9.9bn) in the three months to 30 September 2022 as the value of its tech-focused holdings slumped.
Shares in Softbank were down 13% heading for the close in Tokyo today after the absence of a new buyback, and with analysts also blaming the figures.
READ: ARM a bright spot for Softbank as it writes US$100mln off FTX
The tech investor completed a previous buyback scheme worth Y400bn just ahead of the results and another round had been predicted.
Overall, SoftBank reported its first quarterly profit in three quarters as it booked gains on selling some of its holding in Chinese tech giant Alibaba.
ARM Holdings was one of the bright spots in Vision Fund’s portfolio during the quarter.
The UK chip maker posted total revenue of US$656mln, including record royalty income of US$463mln and chip licensing at US$193mln.
Softbank confirmed ARM is to list on Nasdaq but said this would not occur before March 2023.