{"id":114130,"date":"2021-05-12T11:55:23","date_gmt":"2021-05-12T11:55:23","guid":{"rendered":"https:\/\/fin2me.com\/?p=114130"},"modified":"2021-05-12T11:55:23","modified_gmt":"2021-05-12T11:55:23","slug":"softbank-joins-top-corporate-earners-with-its-37-billion-vision-fund-profit","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/softbank-joins-top-corporate-earners-with-its-37-billion-vision-fund-profit\/","title":{"rendered":"SoftBank joins top corporate earners with its $37 billion Vision Fund profit"},"content":{"rendered":"<ul>\n<li>SoftBank reported a record $36.99 billion Vision Fund unit profit from a fourth-quarter investment gain on Coupang.<\/li>\n<li>The results put it among the world&#x27;s biggest earning firms a year after an unprecedented loss.<\/li>\n<li>Group net profit was $45.88 billion in the year ended March, topping the $42.5 billion made by Warren Buffett&#x27;s Berkshire Hathaway in its last business year.<\/li>\n<\/ul>\n<p>In this article<\/p>\n<ul>\n<li><span>9984.T-JP<\/span><\/li>\n<\/ul>\n<p>SoftBank on Wednesday reported a record 4.03 trillion yen ($36.99 billion) Vision Fund unit profit from a fourth-quarter investment gain on Coupang, putting it among the world&#x27;s biggest earning firms a year after an unprecedented loss.<\/p>\n<p>Group net profit was 4.99 trillion yen ($45.88 billion) in the year ended March, topping the $42.5 billion made by Warren Buffett&#x27;s Berkshire Hathaway in its last business year.<\/p>\n<p>It also compares with a 962 billion yen loss a year earlier after teetering tech bets depressed the value of Softbank&#x27;s portfolio.<\/p>\n<p>&quot;It&#x27;s clearly validation of Masa&#x27;s thesis,&quot; Navneet Govil, Vision Fund&#x27;s chief financial officer, told Reuters in an interview, referring to company founder and CEO Masayoshi Son.<\/p>\n<p>Market enthusiasm for tech stocks drove the public listing of SoftBank-backed e-commerce firm Coupang and used-car trading platform Auto1 Group and the rising share price of ride-hailing firm Uber during the quarter.<\/p>\n<p>To sustain Softbank&#x27;s position among the global corporate elite, Son will have to replicate that fourth-quarter performance with other yet-to-list companies in the Vision fund portfolio. Son has likened that to laying golden eggs.<\/p>\n<p>Candidates including ride-hailing firm Didi, TikTok owner Bytedance and truck service platform Full Truck Alliance have strong revenue growth, healthy market share and a clear path to profitability, according to Govil.<\/p>\n<p>These companies are &quot;sizeable investments with significant value to be unlocked,&quot; he said.<\/p>\n<p>Much of Vision Fund&#x27;s gain, however, is on paper with the value of the portfolio locked up in the stock market amid concern over frothy valuations and a boom in special purpose acquisition vehicles (SPACs) which has drawn regulatory scrutiny.<\/p>\n<p>The total fair value of the first $100 billion Vision Fund and the smaller second fund was $154 billion at the end of March, with SoftBank distributing $22.3 billion to limited partners.<\/p>\n<p>SoftBank has hiked its committed capital in the second fund to $30 billion from $10 billion, reflecting the breadth of investment opportunities, Govil said.<\/p>\n<p>Son said he may consider inviting third-party money into Vision Fund 2.<\/p>\n<p>Two of SoftBank&#x27;s highest-profile bets, space sharing firm WeWork and ride-hailing firm Grab, have outlined plans to list via SPAC mergers, with Vision Fund reportedly in talks to use its own such vehicle to list portfolio company Mapbox.<\/p>\n<p>The Grab deal offers further upside for the Vision Fund should the transaction go through, Govil said.<\/p>\n<p>The group&#x27;s trading arm, SB Northstar, is expanding dealmaking this week leading a $1 billion investment in acquisitive e-commerce firm THG.<\/p>\n<p>SB Northstar and the broader group recorded a 233 billion yen loss on investments in listed stocks and derivatives as efforts to work cash reserves outside the Vision Fund sputter.<\/p>\n<p>SoftBank has completed a 2.5 trillion yen buyback program launched last year which pushed the stock price to two-decade highs in March. The end of the buyback pulls support at a time when shares are sliding in line with weakness in U.S. tech stocks.<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/05\/12\/softbank-joins-top-corporate-earners-with-its-37-billion-vision-fund-profit.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SoftBank reported a record $36.99 billion Vision Fund unit profit from a fourth-quarter investment gain on Coupang. The results put it among the world&#x27;s biggest [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":114129,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SoftBank joins top corporate earners with its $37 billion Vision Fund profit - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/softbank-joins-top-corporate-earners-with-its-37-billion-vision-fund-profit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SoftBank joins top corporate earners with its $37 billion Vision Fund profit - Fin2me\" \/>\n<meta property=\"og:description\" content=\"SoftBank reported a record $36.99 billion Vision Fund unit profit from a fourth-quarter investment gain on Coupang. 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