SoftBank net loss to widen to $8.4bn

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.

SoftBank had previously expected 800 billion yen in non-operating losses but now expects that figure to rise to 1 trillion yen, 700 billion yen of which is related to WeWork.

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