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Japan's SoftBank books $2.2 bln derivative loss
May 10, 2017 / 6:50 AM / 7 months ago

Japan's SoftBank books $2.2 bln derivative loss

TOKYO, May 10 (Reuters) - Japan’s SoftBank Group on Wednesday said it booked a derivative loss of 252.8 billion yen ($2.2 billion) in the last financial year mainly due to its holdings in Chinese e-commerce giant Alibaba Group Holdings .

SoftBank holds a 29.9 percent stake in Alibaba. It said last year it was selling at least $7.9 billion in shares in Alibaba to cut debt.

$1 = 113.7900 yen Reporting by Makiko Yamazaki and Tim Kelly; Editing by Edwina Gibbs

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