Softbank Group to report $2.7bln gain after Alibaba shares sale

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This follows the sales of Alibaba Group Holdings shares to Softbank's wholly owned subsidiary

Satoshi Sugiyama, Reuters News

March 30, 2023

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Softbank Group said on Thursday it will recognise a 359.6 billion yen ($2.72 billion) gain on the sale of investment securities in its parent-only financial results for the financial year ending Friday.

This follows the sales of Alibaba Group Holdings shares to Softbank's wholly owned subsidiary Shiodome Project 17 GK.

($1 = 132.3100 yen) (Reporting by Satoshi Sugiyama; editing by Jason Neely)

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