TOKYO (Reuters) – SoftBank Group Corp <9984.T> shares were untraded with a glut of sell orders on Tuesday morning after estimating the Vision Fund will record a 1.8 trillion yen ($16.73 billion) loss in the year ended March due to faltering bets on unproven startups.
The disastrous performance by the fund on which CEO Masayoshi Son has staked his reputation will drag the entire group to its first annual loss in 15 years, SoftBank said.
(Reporting by Sam Nussey; Editing by Muralikumar Anantharaman)
