Japan’s SoftBank sinks into losses over China investments

SoftBank Group Corp. sank into red ink for the July-September period, dragged down by losses on its investments in China, the Japanese technology conglomerate said Monday.

SoftBank reported a 397.9 billion yen (USD 3.5 billion) loss for the fiscal second quarter, compared to a 627 billion yen profit recorded the same period the previous year.