Shulou(Shulou.com)11/24 Report--

According to news on the evening of November 11, Beijing time, Masayoshi Son, founder of Softbank Corp. Group, said on a conference call in the second fiscal quarter today that he would no longer attend Softbank Corp. 's conference call in the future and instead focus on the listing of ARM.

Son, 65, has been hosting Softbank Corp. 's conference call for decades. As the valuations of the start-ups in which they invested plummeted, Softbank Corp. was forced into a full-scale defense phase. Softbank Corp. has been the most aggressive technology investor in the world for many years. But now it has almost stopped making new investments and focused on its balance sheet.

Today, son also decided to stop hosting Softbank Corp. 's conference call and hand the task over to Yoshimitsu Goto, the chief financial officer (CFO), and several other executives. Son said that with no clear signs of recovery in a short period of time, he is no longer the right person to lead the conference call. In the future, he will focus on the listing of ARM.

Son believes that CFO Goto Fangguang is the right candidate, especially at a time when the company is in a defensive phase. "Goto Fangguang is more suitable for defense than I am," he said. "I'm a little aggressive, not a defensive person. I want to focus on ARM for the time being."

Goto Fangguang said that son will continue to be firmly in charge of the company. But at the same time, he also said that the burden that Softbank Corp. imposed on son was indeed too heavy. "people like us are spoiled by son," he said. "We need to get rid of the habit of relying on him."

Earlier today, Softbank Corp. released his results for the second quarter of fiscal year 2022, which ended at the end of September. Although the company as a whole turned a profit, its vision fund suffered huge losses for three consecutive quarters. In the second quarter, Softbank Corp. made a net profit of 3.03 trillion yen, but the vision fund division lost 1.02 trillion yen (about $7.2 billion).

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