SoftBank faces tech stock weakness at Q2 earnings

TOKYO: SoftBank Group Corp is expected to face further weakness in tech stocks when it reports second-quarter earnings on Friday, after two brutal quarters that have shaken Masayoshi Son’s tech conglomerate.

The Vision Fund investing arm booked $50 billion in losses in the six months to end-June as valuations slid. Founder and Chief Executive Son has moved to cut headcount and refocus the second fund on managing its existing portfolio.