SoftBank's Vision Fund loses record $32 billion in FY23

SoftBank Group's Vision Fund incurred a record loss of ¥4.3 trillion (around $32 billion) in FY23 on investments amid falling valuations of technology firms globally. This is the second straight financial year that the group has incurred losses. The group recorded an annual loss of ¥970 billion (about $7.2 billion) in FY23, down from a ¥1.7-trillion net loss in FY22.