SoftBank Group Corp. said Thursday it posted a net loss of 458.72 billion yen ($3.1 billion) for the nine months ended December, as it still struggles with its investment business.

The net loss decreased from 912.51 billion yen in the same period last year as better-performing stock markets boosted the value of its investment portfolio.

Sales rose 2.6 percent to 5 trillion yen, but the Japanese company did not provide a full-year earnings forecast.

The investment giant continues to grapple with substantial losses incurred over the past two years. During this period, it saw a significant decline in the value of its investments in tech start-ups, coinciding with the rise in interest rates globally.

However, a recent upward trend in the stock markets is providing a respite, enabling the company to enhance its financial position and prepare for future investments, with a particular emphasis on firms related to artificial intelligence.

It posted a loss of 538.95 billion yen in its investment operations for April-December, improving from the 1.36 trillion yen loss a year earlier.

Among the tech companies it invests in, the value of ByteDance, the operator of short-video app TikTok, saw a notable increase, SoftBank Group said.

==Kyodo

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