May 18, 2020 / 6:05 AM / 11 days ago

CORRECTED-SoftBank posts record $13 bln operating loss as tech bets slide

(Corrects paragraph 1 period to financial year, not 4th quarter)

TOKYO, May 18 (Reuters) - SoftBank Group Corp on Monday reported a record 1.4 trillion yen ($13 billion) operating loss in the April-March financial year as the value of its tech bets via the $100 billion Vision Fund crumbled.

The tech and telecoms conglomerate’s disastrous result, caused by a 1.9 trillion loss at the Saudi Arabian-backed fund, compared with a group operating profit of 2 trillion yen in the same period a year earlier. ($1 = 107.1500 yen)

Reporting by Sam Nussey; Editing by Christopher Cushing

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