SoftBank Group announces net loss for fiscal 2023
SoftBank Group posted a net loss of 227.6 billion yen ($1.46 billion) in fiscal 2023, despite a significant recovery since losses two years ago.
SoftBank Group, which provides services in the energy, finance, investment and communication sectors in Japan, published its 2023 fiscal year balance sheets.
Accordingly, the Japanese company made a net profit of 231.1 billion yen ($1.48 billion) in the January-March period of the 2023 fiscal year.
The company recorded a net loss of 227.6 billion yen ($1.46 billion) in the fiscal year April 2023-March 2024.
The net loss of the company, which announced a net loss of 1.7 trillion yen in the 2021 fiscal year and 970.1 billion yen in the 2022 fiscal year, thus decreased to the lowest level in the last 3 years.
“Recovery recorded”
While the company’s sales revenues increased by 2.8 percent to 6.76 trillion yen ($43.3 billion) in fiscal 2023, the total investment loss decreased to 559.3 billion yen ($3.58 billion).
The total investment loss was recorded as 835.1 billion yen in fiscal 2022.
Goto Yoshimitsu, the company’s Chief Financial Officer, said at the press conference, “We have made a significant recovery since the big losses we experienced about two years ago. From now on, we will do our best to keep the numbers in the positive area.”
Meanwhile, the company did not announce its expectations for the 2024 fiscal year, which will end in March 2025, due to market uncertainty.