URGENT: SoftBank Group net loss shrinks to 478 bil. yen in April-June

SoftBank Group Corp. said Tuesday its net loss for the three months ended June shrunk to 477.62 billion yen ($3.3 billion), as the value of its investment portfolio recovered to some extent following a stock rally after it posted a record loss last year. SoftBank Group reported a net loss of 3.16 trillion yen in the same quarter last year, the largest quarterly loss ever by a Japanese company as its Vision Fund was hit by a global market slump. Sales fell 0.9 percent from a year earlier to 1.56 trillion yen.