TapTechNews reported on May 13 that SoftBank released its financial performance for the fiscal year 2023: a net loss of 227.65 billion yen (approximately 105.63 billion RMB converted into US dollars), a 77% decrease year-on-year, estimated to be a loss of 283.09 billion yen. It is worth mentioning that this is the third consecutive year of losses for the company.
The SoftBank Vision Fund made a profit of 128.18 billion yen, compared to a loss of 4.31 trillion yen in the same period last year, with an estimated profit of 362 billion yen. In the fiscal year 2023, the Vision Fund's investment income was 724.34 billion yen, compared to a loss of 5.28 trillion yen in the same period last year. In the fiscal year 2023, SoftBank's net sales amounted to 6.76 trillion yen, a 2.8% increase year-on-year, estimated at 6.81 trillion yen.
According to the Nikkei, as part of SoftBank Group's focus on artificial intelligence and the semiconductor field, Arm plans to produce a prototype of an AI chip by next spring and start mass production in the fall. Arm will establish a dedicated AI chip development department and eventually become part of the SoftBank Group.
In addition, last week, the SoftBank Group led a $105 million investment in the UK self-driving technology startup Wayve.