SoftBank Vision Fund Posts $17.7 Billion Loss on WeWork, Uber
- Loss from Uber was $5.2 billion, WeWork added $4.6 billion
- SoftBank Group booked a record 1.36 annual operating loss
Masayoshi Son,
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
SoftBank Group Corp. said its Vision Fund business lost 1.9 trillion yen ($17.7 billion) last fiscal year after writing down the value of investments, including WeWork and Uber Technologies Inc.
The company posted an overall operating loss of 1.36 trillion yen in the 12 months ended March and a net loss of 961.6 billion yen, according to a statement on Monday. The Tokyo-based conglomerate released figures in two preliminary earnings statements last month. The losses are the worst ever in the company’s 39-year history.