Masayoshi Son wants investors to believe that a record loss from investments in money-losing startups WeWork and Uber Technologies Inc. is but a bump in the road. Some aren’t buying it.
SoftBank Group Corp.’s shares fell as much as 4.2 percent in Tokyo trading on Thursday morning, the biggest intraday decline in about six weeks. The conglomerate recorded an operating loss of ¥704.4 billion ($6.5 billion) after writedowns in WeWork and other investments, its first such loss in 14 years and the biggest quarterly shortfall ever. The $100 billion Vision Fund, the unprecedented investment vehicle that had been producing big profits, lost ¥970.3 billion.