SoftBank Dumps MS, Facebook, Alphabet And Netflix Shares
Japanese conglomerate SoftBank has offloaded shares of US tech giants, including Facebook, Microsoft, Alphabet and Netflix.
SoftBank invests in publicly listed shares through its SB Northstar trading unit and provides a breakdown of the unit’s portfolio companies in its quarterly results.
Facebook, Microsoft, Alphabet and Netflix were unlisted in its Q1 report, with the company also reducing the size of its stake in Amazon from $6.2 billion to $5.6 billion.
SoftBank’s overall net profit for Q1 fell 39 percent year-on-year to 762 billion Japanese yen, as Chinese regulators cracked down on Alibaba and Didi.
The SoftBank’s tech heavy Vision Fund posted a US$2.1 billion profit as companies listed on stock markets.