Softbank Corp.The group's shares fell sharply on Monday. DidiThe trip is run by a ride-hailing giant that has just listed in the United States, and Softbank Corp. is the company's largest shareholder.
Softbank Corp. fell 6.1 per cent at one point in Tokyo, the biggest decline among Nikkei 225 stocks, the biggest drop since its earnings report in may.
Softbank Corp. 's market capitalization has shrunk by nearly 1/3 since it hit an all-time high in March. Although the Japanese company reported its biggest-ever quarterly profit less than two months ago, investors were disappointed that it did not have any new share buyback announcements.
Softbank Corp. 's vision fund is Didi's largest shareholder, with a stake of more than 20 per cent, the largest single investment in its vast technology company portfolio. Softbank Corp. is also the largest shareholder of Uber Technologies Inc., while Uber is the second largest shareholder of Didi. Softbank Corp. has invested about $12 billion in Didi, The Information reported.
Didi fell as much as 11% in the U. S. market on Friday.