The founder of the world’s largest technology investment fund apologised yesterday for a “depressing” earnings announcement after it unveiled the biggest loss in its history.
Masayoshi Son said he was taking the SoftBank Vision Fund’s £19 billion loss in the three months to the end of June “very seriously” and would be adopting a more conservative approach to investment. “If we pursue our vision too recklessly, we may end up losing big,” he said. “We have to control ourselves.”
Addressing shareholders in front of a portrait of Tokugawa Ieyasu, the Japanese shogun, entitled Frown — a picture that he said encapsulated his mood — he regaled investors with the story of how the leader had suffered a decisive defeat at the Battle of Mikatagahara against
