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SoftBank

SoftBank loan plan draws mixed reaction from WeWork-wary banks

Mizuho shows interest while MUFG and Sumitomo Mitsui remain aloof

SoftBank CEO Masayoshi Son is looking for fresh funding from Japan's three megabanks -- Sumitomo Mitsui Banking, Mizuho and MUFG Bank. (Nikkei Montage/Source photo by Ken Kobayashi)

TOKYO -- SoftBank Group's push for a fresh loan to help save WeWork has elicited an uneven response from Japan's biggest banks.

While Mizuho Bank, the conglomerate's main lender, appears amenable to the idea, MUFG Bank and Sumitomo Mitsui Banking have adopted a more cautious stance. They are calling for retrenchment and asset sales to turn around the money-losing office sharer, on which SoftBank CEO Masayoshi Son has bet billions of dollars.

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