SoftBank sees $eight.four billion web loss on WeWork writedown

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FILE PHOTO: The brand of SoftBank Group Corp is displayed at SoftBank World 2017 convention in Tokyo, Japan, July 20, 2017. Information/Issei Kato

TOKYO (Information) – SoftBank Group Corp (9984.T) stated it sees a lack of round 700 billion yen ($6.6 billion) within the yr ending March on the portion of its WeWork funding held outdoors the Imaginative and prescient Fund, extending the group’s anticipated web loss to 900 billion yen.

SoftBank maintained its forecast of a report annual working lack of 1.35 trillion yen introduced earlier this month as bets through the $100 billion fund bitter.

Reporting by Sam Nussey; Enhancing by Kim Coghill