SoftBank Group Corp said it sees a loss of around 700 billion yen ($6.6 billion) in the year ending March on the portion of its WeWork investment held outside the Vision Fund, as the virus compounds woes at one of the firm's biggest bets.
) said it sees a loss of around 700 billion yen in the year ending March on the portion of its WeWork investment held outside the Vision Fund, as the virus compounds woes at one of the firm’s biggest bets.
“Every writedown takes Wework’s carrying value closer to reality. Clearly the value is zero,” said Kirk Boodry, an analyst at Redex Holdings. The group maintained its forecast of a record annual operating loss of 1.35 trillion yen announced earlier this month.
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