SoftBank Group forecasts US$7 billion full-year net loss
SoftBank Group Corp founder, chairman and CEO Masayoshi Son in a file photo. The company announced a US$7 billion net loss today. – EPA pic, April 13, 2020.
STRUGGLING Japanese conglomerate SoftBank Group today forecast a US$7 billion net loss for the year ended March due to the negative impact of Covid-19 and losses related to WeWork. The telecoms and investment giant, led by flamboyant entrepreneur Masayoshi Son, also said in a surprise press release it expected to suffer an operating loss of ¥1.35 trillion or US$12.5 billion.
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