Japanese conglomerate SoftBank Group Corp. dumped shares of American tech giants in the second quarter, according to the company’s latest financial report.
- SoftBank’s trading unit SB Northstar saw its holdings in stakes down to $13.6 billion at the end of the second quarter from $19 billion in the first quarter. A spokesperson declined to comment further.
- The company ended the first quarter with $3.1 billion of Facebook shares, $1 billion of Microsoft shares, $575 million of Alphabet shares, and $382 million of Netflix shares. The shares of the four companies were missing from the latest report.
- SoftBank also let go of holdings in retail giant Amazon, with its stake down to $5.6 billion from $6.2 billion.
SoftBank reported a 39% decline in its net profit for its fiscal first quarter to 762 billion Japanese yen, as Alibaba was hit by a crackdown of Chinese regulators. 9984.T is up 0.90%, FB is down 0.05%, MSFT down 0.59%, GOOG down 0.19%, NFLX down 0.57%, and AMZN down 0.50%.