< SoftBank Group expected its vision fund to incur a loss of 1.8 trillion yen ($ 16.5 billion) in the fiscal year ending in March due to the deterioration in the performance of its investments in the sector Technology.


According to Reuters, SoftBank said in a statement that the loss of the fund, backed by Saudi Arabia, for the third consecutive quarter would cause the group as a whole to incur an operating loss of 1.35 trillion yen, its first loss in 15 years.


The fund’s losses, which are attributed to the deteriorating market situation as markets are affected by the Corona virus pandemic, are a major blow to the efforts of Masayoshi Sun, CEO of Softbank, to restore his reputation among investors.


It is worth noting that a $ 100 billion vision fund is available.