SoftBank Group Corp. said Tuesday it posted a net loss of 912.5 billion yen ($6.9 billion) in the April-December period, in a reversal from a net profit of 392.6 billion yen a year earlier, as losses mounted from a fall in the value of its shareholdings.

The net loss expanded from the 129.1 billion yen reported for the first half through September, the Japanese technology and investment group said. Its sales for the nine months totaled 4.88 trillion yen, up 6.4 percent.

The company racked up a net investment loss of about 1.4 trillion yen in the reporting period amid a market slump due to global inflation and subsequent monetary tightening in major economies.

Its Vision Fund business posted about 5 trillion yen in losses, but gains from selling some of its stake in Chinese tech giant Alibaba Group Holdings Ltd. offset some of the losses, it said.

Masayoshi Son, chairman and CEO of the conglomerate, has said that given the unfavorable market conditions, he will curb new investments to reduce risks.

"Stock markets have been unstable. We will strengthen our defense," Chief Financial Officer Yoshimitsu Goto said at a press conference. "We can go on an offensive at any time. We don't need to hurry, and we are not going to waste our money."

Rising interest rates are a headwind to investment companies like SoftBank Group as higher borrowing costs curb growth investment from start-ups they invest in.

A falling trend in stocks also weighed on the value of private equities, which are part of SoftBank Group's portfolio.

The company reiterated its intention to list Arm Ltd., its British chip designer subsidiary, within this year, adding that the New York and London markets are among viable options for the planned listing.

The company did not provide its earnings outlook for the current business year through March.

==Kyodo

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