SoftBank chief had bet heavily on sharing-economy startups but those investments have been particularly hard hit as the coronavirus pandemic curbs unnecessary human interaction SoftBank Group Corp.
forecast a 1.35 trillion yen ($12.5 billion) operating loss for the fiscal year ended in March, a sign of how badly Masayoshi Son’s bets on technology startups have been battered in recent months.
The Japanese company expects to record a 1.8 trillion yen loss from its Vision Fund and another 800 billion yen in losses from SoftBank’s own investments.
It has written down the value of investments in companies, including office-sharing startup WeWork and satellite operator OneWeb, which filed for bankruptcy last month.