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February 12, 2020 | Via CNN

SoftBank Profits Plunge 99%, Dragged Down by Vision Fund Losses

SoftBank profits have been almost entirely wiped out, as the company continues to feel the pain from big losses in its massive tech fund. The Japanese tech conglomerate on Wednesday reported operating income of 2.59 billion yen ($23.6 million) for the three months ended in December, a plunge of 99% compared to the same period a year earlier. SoftBank (SFTBF) founder and CEO Masayoshi Son’s closely watched $100 billion Vision Fund was the biggest driver of those losses.

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