Partial review of support for Softbank WeWork April 2 16:56
SOFTBANK Group announced that it will stop buying over 300 billion yen in Japanese yen after reviewing some of the support measures announced last October in response to the deterioration of management of WeWork, a major US share office investee Did.
In October last year, the SoftBank Group decided to provide additional support of $ 9.5 billion in Japanese yen and approximately ¥ 1 trillion to WeWork, whose management had deteriorated.
Of this amount, approximately 320 billion yen was to be purchased from existing shareholders, but SoftBank Group announced on February 2 that it will stop buying it.
Following the announcement of the support program, criminal cases were being investigated in the United States over the founder of WeWork, one of the major shareholders, and the authorities did not receive approval by the deadline. You.
On the other hand, among the support measures, we have already provided or will provide financial support of over 580 billion yen in Japanese yen, so it will not affect the operation of WeWork or the business plan.
The SoftBank Group has been concerned by the market that the performance of its investment companies will be deteriorating, and we have been expanding its operations in 37 countries, including the United States and Japan, due to the spread of the new coronavirus. It is feared that the impact on the business will decrease as the number of users decreases.