SoftBank swings to Q4 profit of $2.1 billion

TOKYO (Reuters) – Japanese technology giant SoftBank Group swung to a quarterly profit on Monday, reporting a net profit of 328.9 billion yen ($2.11 billion) for the January-March period.

The Vision Fund investment unit booked an investment loss of 57.5 billion yen, after three consecutive quarters of profit.

The net profit at group level compared with a 32 billion yen loss in the same period a year earlier, when capital raised using SoftBank’s stake in Alibaba Group cushioned some of the writedowns in the value of Vision Fund private portfolio companies.

($1 = 155.8500 yen)

(Reporting by Anton Bridge; Editing by David Dolan and Christopher Cushing)