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Companies

SoftBank's bullish IPO backfires as bad news saps momentum

Shares of mobile unit fall 15% with Huawei and price war dampening outlook

Ken Miyauchi, president and CEO of SoftBank's mobile unit, speaks during a news conference in Tokyo on Dec. 19. (Photo by Toshiki Sasazu)

TOKYO -- The CEO of SoftBank Group's Japanese mobile unit on Wednesday acknowledged the "challenging conditions" facing the company after its shares fell nearly 15% on their first day of trading, leaving retail investors nursing losses.

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