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Japan tech giant SoftBank posts $23 billion quarterly loss
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A person walks by a SoftBank shop on Monday, Aug. 8, 2022, in Tokyo. Japanese technology company SoftBank Group sank into losses for the first fiscal quarter as the value of its investments declined amid global worries about inflation and interest rates. - photo by AP Photo/Eugene Hoshiko
TOKYO (AP) — Japanese technology company SoftBank Group posted a $23.4 billion loss in the April-June quarter as the value of its investments sank amid global worries about inflation and interest rates. SoftBank Group Corp.’s loss of 3.16 trillion yen was a reversal from its 762 billion yen profit in the same quarter a year earlier. The company said Monday that quarterly sales rose 6%.