SoftBank Group incurred a net loss of 3.16 trillion yen (23.4 billion US dollars) in the second quarter of this year.

According to Arabiya Net, these losses came in light of the continued selling operations that affected global technology stocks, affecting the Vision Fund's investment portfolio.

The world's largest technology fund posted a loss of 2.33 trillion yen in the three months ended June 3, after a record loss of 2.2 trillion yen in the previous quarter. SoftBank also announced a loss of 820 billion yen from exchange rates due to the weak yen, Bloomberg reported.

Global stock prices continued their decline during the second quarter of the year, hurting the valuations of major public stocks of SoftBank Group such as Uber and Coupang.

SoftBank said Vision Fund losses include 293.4 billion yen for Coupang, 235.9 billion yen for SenseTime and 220.7 billion yen for DoorDash. They also reported a decline in AutoStore and WeWork.