SoftBank Group Corp. posted a record net loss Monday of ¥961.58 billion for the fiscal year that ended this March, its first red ink in 15 years, due to the poor performance of its tech startup investments amid the pandemic.
The figure is a sharp drop from the net profit of ¥1.41 trillion the conglomerate logged in fiscal 2018. It also booked an operating loss of ¥1.36 trillion for fiscal 2019, compared with a ¥2.07 trillion profit the year before, on sales of ¥6.19 trillion, up 1.5 percent.
The operating loss was the largest ever for a Japanese company other than financial firms, according to Nomura Holdings Inc.