SoftBank Group reported a net loss of a record $23 billion for the three months ending in June, as turbulence at its mammoth Vision Fund unit and a market sell-off roiled tech companies.
Masayoshi Son, founder and chief executive officer of SoftBank, has previously committed to tighten investment requirements and retain capital to weather the slump.
However, the most recent outcomes may test investors' willingness to endure further substantial losses.
The agony in the April-June quarter follows the Vision Fund's record $26 billion loss in May, which was caused by rising interest rates and political unrest that shook global markets.
Son stated at a press briefing on Monday, following the revelation of the latest results, that "the world is in enormous uncertainty."
SoftBank's net loss for the most recent quarter was $3.16 trillion yen (about $23.4 billion), its greatest loss ever. This compares to a profit of 761.5 billion yen during the same time period a year ago.
The value of Vision Fund decreased by $23.1 billion.
Robotics company AutoStore Holdings and artificial intelligence company SenseTime Group were among the companies whose stocks lost value.
SoftBank stated that had reduced the value of its two Vision Funds' unlisted assets by 1.14 quadrillion yen.
According to analysts, it is unlikely that these private assets will be marked down to reflect the magnitude of the current market slump.
At the end of June, the value of the second Vision Fund's holdings in 269 companies was $37.2 billion, compared to the cost of acquisition of $48.1 billion.
SoftBank, which expects to list chip designer Arm after a failed sale to Nvidia due to falling IPO volumes and market skepticism towards money-losing companies, has been deprived of a vital source of funding due to the market's skepticism towards money-losing startups and falling IPO volumes.
SoftBank has sold companies including Uber Technologies and home-selling site Opendoor Technologies for a total gain of $5.6 billion in order to fund cash.
SoftBank sold Uber for an average price of $41.47 per share, compared to Friday's closing price of $31.
SoftBank was hardly the sole victim of the tech sell-off.
Tiger Global, a hedge fund that competes with "unicorn hunter" Son for acquisitions, had its flagship fund decline by 50 percent in the first half of the year as a result of underestimating the impact of rising inflation on the markets.
Berkshire Hathaway recorded a quarterly loss of $44 billion on its assets and derivatives, and CEO Warren Buffett urged investors to disregard the volatility.
