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SoftBank Reports $3.5 Billion Loss, Hit by China’s Tech Crackdown

SoftBank Reports .5 Billion Loss, Hit by China’s Tech Crackdown

TOKYO— SoftBank Group Corp. reported its first quarterly net loss in a year and a half after China’s stricter regulations on technology companies caused a sharp stock selloff and weighed on SoftBank’s investment portfolio.

The Japanese conglomerate, best known for its $100 billion Vision Fund and one of the world’s leading funders of Chinese startups, posted a loss of ¥398 billion, equivalent to $3.5 billion, for the quarter ended Sept. 30.

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