SoftBank seen returning to profit as tech stocks gain

TOKYO: Japan’s SoftBank Group is likely to report a return to profit when it announces first-quarter earnings on Tuesday, analysts said, as its Vision Fund investing arm’s portfolio of technology stocks enjoyed a rebound.

The tech investor has posted two consecutive years of loss on the slumping value of the Vision Fund portfolio and sold down its crown-jewel stake in Chinese e-commerce firm Alibaba Group Holding to bolster its balance sheet.