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Masayoshi Son spoke this week of "unicorns" plunging into a steep valley due to the coronavirus pandemic. (Nikkei Montage/Source photo by Ken Kobayashi and screenshot from SoftBank YouTube page)
Business Spotlight

SoftBank and Son search for path out of 'Coronavirus Valley'

Pandemic adds to pressure on founder and CEO to show his Midas touch

WATARU SUZUKI, Nikkei staff writer | Japan

TOKYO -- As he unveiled his company's worst-ever annual financial results on Monday, SoftBank Group CEO Masayoshi Son painted a vivid picture of the "great crisis" engulfing the sprawling tech investor.

"If I were to describe it," Son told his unseen online audience, "unicorns that had been climbing uphill hard are suddenly faced with a coronavirus valley -- and the unicorns are falling into that valley." In case anyone missed the point, a slide depicting tumbling unicorns appeared behind Son's head.

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