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Asharq Al-Awsat
Asharq Al-Awsat
Technology
Asharq Al-Awsat

Japan Tech Giant Softbank Posts $23 Billion Quarterly Loss

SoftBank Japan SoftBank Group SoftBank Group Corp Inflation Interest Rates
The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo

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.

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