"In three months, from a huge loss of 94.6 billion to a profit of 82.6 billion!" Source | Investor (ID: touzijias) Author | Liu Xiaoyue In this world, the only constant is change.

Son, who once staged a huge defeat, once again staged a big reversal.

News that SoftBank lost more than 1.4 trillion yen, setting the largest single-quarter loss in the history of a Japanese company, spread across the Internet. However, in just three months, SoftBank Group's financial report has gone from a huge loss of 94.6 billion to a profit of 82.6 billion, raising questions.

The person was stunned.

On August 11, 2020, SoftBank Group released its consolidated financial report from April to June (first quarter of fiscal year 2020). The financial report showed that during the reporting period, net profit was 1.2557 trillion yen (approximately RMB 82.2 billion).

An increase of 11.9% compared with the same period last year.

This number is also SoftBank’s best quarterly performance since its founding.

In the previous quarter, it lost more than 1 trillion yen.

At the same time, Son Zhengyi’s own net worth has also increased rapidly.

SoftBank Group founder Masayoshi Son's net worth surged by nearly $12 billion in three months, according to the Bloomberg Billionaires Index, easing the pressure on his personal finances caused by a series of investment losses in 2020.

This is also the first time that Son’s personal wealth has exceeded US$20 billion since the Bloomberg Billionaires Index began tracking him in January 2013.

Coincidentally, the day SoftBank released its financial report was Son’s 63rd birthday.

This is definitely the best birthday gift for Son who "feels like sleeping is a waste of time."

1. Masayoshi Son, the worst boss in 19 and 20 years. Masayoshi Son has experienced an unprecedented defeat.

For the entire fiscal year of 2019, SoftBank Group suffered an operating loss of 1.365 trillion yen (approximately US$12.7 billion), slightly more than the 1.35 trillion yen predicted in the April performance forecast, setting a record for the highest loss since its establishment.

Most of the losses came from the Vision Fund, which had an investment loss of 1.8 trillion yen in fiscal 2019.

In 2020, under the impact of the epidemic, the Vision Fund became even more chaotic.

In May, SoftBank released a financial report showing that in the first quarter of 2020, SoftBank Group suffered a net loss of 1.4381 trillion yen (approximately RMB 95.6 billion). This level set a new quarterly performance record for Japanese companies and surpassed Tokyo Electric Power Group in East Asia.

The record quarterly loss (January to March 2011) of 1.3872 trillion yen was set during the great earthquake in Japan.

SoftBank’s stock price also plummeted one after another.

Taking February 21st to March 18th as an example, SoftBank's stock price plummeted 42.69% within 20 days, almost halving, setting the largest decline in 20 years.

After experiencing the big pitfalls of companies such as Wework and Wirecard, more tragedies are still on the way.

Even Son himself admitted that at least 15 of the 88 companies invested by the Vision Fund will go bankrupt as the company tightens financial spending and the new coronavirus epidemic shakes the economy.

No permanent friends, only permanent interests.

All the allies whose "love is stronger than gold" turned away from him.

Investors who once favored him and could give him $45 billion in 45 minutes now treat him coldly.

According to media reports, most investors of the first phase of the Vision Fund have already stated that they will no longer inject capital into the second phase.

When Son was in Riyadh this year for the latest Future Investment Initiative summit, also known as "Davos in the desert," the room where Son sat during his panel discussion was nearly empty.

The allies who had fought side by side for 20 years finally abandoned him.

In 2001, Uniqlo founder Tadashi Yanai was invited to serve as an outside director of SoftBank. He chose to step down as an outside director of SoftBank on the last day of 2019 and parted ways with Masayoshi Son on the grounds that he "wanted to focus on his business."

Obviously, Tadashi Yanai, who comes from an industrial background, naturally can’t bear to see Masayoshi Son making money by inflating valuations and promoting bubbles.

Once sought after by everyone as an investment vane, now it is met with cynicism from all walks of life.

One hedge fund investor said the Vision Fund's support could be seen as "a precursor to an immediate sale."

Scott Galloway of New York University's Stern School of Business simply predicted that the Vision Fund will close within 12 months.

Son, who was aloof and arrogant, had to bow his head and admit his mistake.