Fueled almost entirely by a surging valuation on its OpenAI holdings, the Vision Fund arm of Japanese technology group SoftBank recorded roughly $46 billion in investment gains over the twelve months through March 31.
The Vision Fund segment recorded income before income tax of ¥6,444.6 billion for the year, compared with a loss of ¥115.0 billion in the prior fiscal year, according to SoftBank’s earnings release
The gain was concentrated in its second Vision Fund, which logged investment gains related to OpenAI of $42.1 billion. The fair value of SoftBank’s total investment in OpenAI reached $79.6 billion at year-end, against a cumulative investment cost of $34.6 billion — a valuation gain of $45.0 billion recorded during the fiscal year. For the full year, SoftBank Group posted net income of ¥5,002.3 billion, up from ¥1,153.3 billion in the prior year, the company said.
Revenue rose 7.7% to ¥7,798.7 billion. Outside of OpenAI, SoftBank’s investment results were mixed. The company’s holding company investment segment posted a loss of ¥472.1 billion for the year, as gains on NVIDIA and Intel were more than offset by losses on T-Mobile and Alibaba.