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SoftBank Posts Its Worst Results Ever, Hit by Poor Tech Investments

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SoftBank Posts Its Worst Results Ever, Hit by Poor Tech Investments

TOKYO—Technology giant SoftBank Group Corp. recorded the worst results in its nearly four-decade history, as huge losses at its $100 billion Vision Fund and other investments threw into question its aggressive strategy of funding digitally driven startups.

SoftBank also said Alibaba Group Holding Ltd. co-founder Jack Ma—whose company has been the biggest investment success story for SoftBank Chief Executive Masayoshi Son—would step down from SoftBank’s board after 13 years. SoftBank has slowly been paring its Alibaba stake…

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