SoftBank s Son hails golden eggs as Vision Fund rallies
By Sam Nussey and Tim Kelly
Reuters
TOKYO (Reuters) - SoftBank Group Corp Chief Executive Masayoshi Son boasted of delivering golden eggs on Monday, after his company s Vision Fund unit rebounded from a loss to record an 844 billion yen ($8 billion) third quarter profit.
The profit marks a sea change from a year earlier when high-profile misses such as the flopped IPO of office sharing firm WeWork and the COVID-19 pandemic forced Son to sell assets to stabilise his investing empire. Our vision never changed, Son told a news conference in Tokyo after his company announced its latest results. Golden eggs are not produced by chance, he added, returning to a favoured analogy that describes SoftBank as a goose that backs fast-growing companies such as Alibaba that are its golden eggs.
The profit marks a sea change from a year earlier when high-profile misses such as the flopped IPO of WeWork and the COVID-19 pandemic forced Masayoshi Son to sell assets to stabilize his investing empire