SoftBank Group Corp is seen booking a 75per cent first-quarter profit plunge on Tuesday, albeit making a return to profitability, as the coronavirus outbreak continued to weigh on the tech bets of CEO Masayoshi Son's US$100 billion Vision Fund.
The Japanese conglomerate is expected to record operating profit of 171 billion yen for April-June, showed the average of three analyst estimates compiled by Refinitiv. That would compare with 625 billion yen in the same period a year earlier.Analysts grapple with uncertainty over how the Vision Fund values its portfolio of mostly unlisted technology firms. Faltering bets on startups such as shared office space firm WeWork pushed SoftBank to its deepest annual loss last year.
It is also looking at selling chip designer Arm, media reported, in a possible break from a firm Son praised as closely aligned with his vision but that has turned money losing under his watch.
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