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SoftBank

SoftBank Vision Fund's gains wiped out with $16.7bn loss

$100bn investment vehicle turns net negative after WeWork and other woes

SoftBank Group, led by CEO Masayoshi Son, expects a 1.35 trillion yen operating loss for the year ended March, swinging from a 2.07 trillion yen profit in the previous fiscal year. (Photo by Ken Kobayshi)

TOKYO -- Shares in SoftBank Group opened lower in Tokyo on Tuesday after the Japanese tech group said it expected to book its biggest ever annual loss, sparked by a reduction of 1.8 trillion yen ($16.7 billion) in the value of its investments at its $100 billion Vision Fund,

The steep loss at the fund follows a troubled year when the near-collapse of the WeWork shared office space business, one of the fund's highest-profile investments, cast a shadow over Softbank and its CEO, Masayoshi Son.

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