The tech conglomerate has poured more than $13.5 billion into WeWork, one of a string of troubled bets by CEO Masayoshi Son that have laid waste to SoftBank's full-year earnings and which are now being hammered by the coronavirus outbreak.
SoftBank's shares were up 2.4 per cent in early trading, in line with the benchmark index. The group has launched a record 2.5 trillion yen buyback to support its shares, which CEO Son uses as collateral for loans.
The highly leveraged conglomerate has been forced into selling down major assets to raise funds, but could receive a big boost from the Bank of Japan's plan to expand corporate bond buying.
SoftBank was sitting on around $160 billion of interest bearing debt at the end of December and has seen bond yields rise as high as 4.5 per cent this month.
are continuing to retreat from a SoftBank-cash fuelled push for breakneck growth, with Indian hotel chain Oyo planning to offload more properties around the world, sources told Reuters this week.