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SoftBank

SoftBank net loss to widen to $8.4bn

Financial result deteriorates further due to fresh WeWork writedown

SoftBank Group CEO Masayoshi Son (Photo by Ken Kobayashi)

TOKYO -- SoftBank Group expects its net loss for the year ended March to widen to 900 billion yen ($8.4 billion), 150 billion yen more than its previous forecast, due to new losses related to its investment in U.S. office space provider WeWork.

The revision announced by Softbank on Thursday comes less than three weeks after its previous forecast and highlights the challenges surrounding WeWork as the coronavirus outbreak deepens.

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