SoftBank Group forecasts $7-bn full-year net loss

Tokyo (AFP) – Struggling Japanese conglomerate SoftBank Group on Monday forecast a $7-billion net loss for the year ended March due to the negative impact of coronavirus and losses related to WeWork.The telecoms and investment giant, led by flamboyant entrepreneur Masayoshi Son, said in a surprise press release it also expected to suffer an operating loss of 1.35 trillion yen or $12.5 billion.The firm cited a 1.8- trillion yen loss at its SoftBank Vision Fund, blaming “the deteriorating market environment” in the wake of the global coronavirus pandemic. As well as killing more than 100,000 peo…

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