(Nov 6): Masayoshi Son is finally disclosing the damage from SoftBank Group Corp’s bets on WeWork and Uber Technologies Inc.

The Japanese investment powerhouse on Wednesday reported its first quarterly operating loss in 14 years -- about US$6.5 billion ($8.8 billion) -- after writing down the value of a string of marquee investments. It swallowed a charge of 497.7 billion yen ($6.2 billion) for WeWork, whose spectacular implosion turned the once high-flying shared-office startup into a Silicon Valley punchline.

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.

Bonus:

  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply

Subscribe

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook