SoftBank sees $8.4b net loss on WeWork writedown

SoftBank sees $8.4b net loss on WeWork writedown

Photograph: Bloomberg

SoftBank Group Corp said it sees a loss of around 700 billion yen ($6.6 billion) in the year ending March on the portion of its WeWork investment held outside the Vision Fund, extending the group’s expected net loss to 900 billion yen.

SoftBank maintained its forecast of a record annual operating loss of 1.35 trillion yen announced earlier this month as bets via the $100 billion fund sour.

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