Mizuho Bank to provide 300 billion yen loan to SoftBank Group November 21 2:14
Mizuho Bank and other major banks are making adjustments in the direction of lending around 300 billion yen to the SoftBank Group, which recorded a large loss due to the deterioration of the management of a major US shared office company, WeWork. The SoftBank Group has decided to provide additional support for WeWork, and banks are also willing to provide financial support.
SOFTBANK Group has suffered a huge loss in the funds it manages, due to a deterioration in the management of US share office giant WeWork, and it has become the first operating loss in 15 years in its interim financial results until September. It fell.
In response, Mizuho Bank, a major bank, has found that it is making adjustments in the direction of providing 300 billion yen of loans to the SoftBank Group.
Mizuho is considering cofinancing with other financial institutions, and is currently discussing the amount of financing with Mitsubishi UFJ Bank and Sumitomo Mitsui Banking Corporation.
The SoftBank Group has decided to provide additional support for WeWork, and this loan will be used for this.
As of the end of September, the total interest-bearing debt of the entire SoftBank Group has reached 18 trillion yen. However, Mizuho and others are willing to support SoftBank Group, which aims to recover its business performance through active investment.