SoftBank Group suffered another huge loss in fiscal Q3 2022 (ending 31 December 2022), as its Vision Funds recorded an investment loss of JPY730.3 billion ($5.5 billion), extending a losing streak to four consecutive quarters.

The company booked a net loss of JPY783.4 billion, down from a JPY29 billion profit in fiscal Q3 2021.

It recorded a profit of JPY3 trillion in fiscal Q2 2022, as the sale of part of its holdings in Alibaba Group offset massive Vision Fund investment losses.

In the recent quarter, its Vision Funds suffered as many technology shares in the portfolio were battered by a stock market sell off.

The Vision Fund losses were partially offset by gains of JPY175 billion from investments in its holding company.

SoftBank founder Masayoshi Son opted not to participate in the earnings call.

Net sales increased 6 per cent to JPY1.7 trillion.

The company reduced investment from $39.2 billion over the first nine months of its fiscal 2021 to $2.8 billion in the recent period, Reuters reported.