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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
ChangeLast1st jan.
AT HOME GROUP INC. -1.41% 14.65 Delayed Quote.166.36%
JUST GROUP PLC -2.02% 44.6 Delayed Quote.-43.54%
LINE CORPORATION 0.00% 5370 End-of-day quote.0.37%
SOFTBANK CORP. -5.04% 1242.5 End-of-day quote.-14.87%
SOFTBANK GROUP CORP. -1.09% 6545 End-of-day quote.37.62%
SPACE CO.,LTD. 2.70% 837 End-of-day quote.-34.46%
WILL GROUP, INC. 2.75% 935 End-of-day quote.-25.32%
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