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SoftBank Corp CEO says WeWork Japan can become profitable 'in near future'

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11/05/2019 | 03:21am EDT
SoftBank Corp. President and CEO Ken Miyauchi attends a ceremony to mark the company's debut on the Tokyo Stock Exchange in Tokyo

TOKYO (Reuters) - SoftBank Corp CEO Ken Miyauchi said on Tuesday WeWork's Japanese business can become profitable "in the near future".

WeWork Japan, a joint venture between the office-space sharing startup, telco SoftBank Corp and its parent SoftBank Group Corp, is growing well with high occupancy rates, executives said at a news conference.

SoftBank Group was forced to bail out U.S-based WeWork after its IPO attempt flopped and is leading a restructuring at the money-losing firm.

(Reporting by Sam Nussey; Editing by Himani Sarkar)

Stocks mentioned in the article
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AT HOME GROUP INC. 6.27% 22.04 Delayed Quote.300.73%
JUST GROUP PLC 4.36% 46.96 Delayed Quote.-40.56%
LINE CORPORATION 0.00% 5360 End-of-day quote.0.19%
SOFTBANK CORP. -1.31% 1210 End-of-day quote.-17.09%
SOFTBANK GROUP CORP. -0.01% 7088 End-of-day quote.49.03%
SPACE CO.,LTD. -1.53% 773 End-of-day quote.-39.47%
WILL GROUP, INC. -3.56% 839 End-of-day quote.-32.99%
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