SoftBank saw the recognition of gain in the fair value of investments primarily in Southeast Asia and India at $74 million in the April-December 2017 period, compared to a loss of $359 million in the same period in 2016.
In May last year, SoftBank had said it had incurred a loss of over 9,000 crore ($1.41 billion) from its investments in India’s Internet commerce sector.
Three Indian companies – Flipkart, Paytm and OYO – are among the 26 investments from $100 billion SoftBank Vision Fund.
Apart from the three investments, SoftBank has also invested in companies such as ride-hailing application Ola, grocery delivery player Grofers, mobile advertising company InMobi and struggling online retailer Snapdeal.
“We want to form a SoftBank synergy group so that we can sustain for 300 years. The SB Synergy Group is a group of No 1 companies… If the company becomes No 2 or No 3 company, we may exit the company,” said Son during the quarterly results announcement.
This was on display last year, when SoftBank was looking to engineer a merger of its portfolio company Snapdeal, where it originally invested in 2014, with market leader Flipkart. Snapdeal had lost market share, slipping to a distant third position against Amazon India. When the merger effort failed, SoftBank decided to invest in Flipkart independently. It also picked up a stake in Paytm, which is the market leader in mobile payments space.