SoftBank Taking More Cautious Approach
CBJ — SoftBank is now taking a more cautious approach to growth after a very difficult acquisition of WeWork.
SoftBank CEO Masayoshi Son says one of the fundamental changes will be slower, more calculated moves regarded the timings of IPOs. Specifically the trigger would only be pulled once it seemed as if companies are much closer to achieving profitability as opposed to ones that project to do so, but not for the short-term.
Taking a more cautious approach will mean SoftBank will rely more heavily on its telecoms unit and its base of 23 million mobile subscribers in Japan.
WeWork was not the first setback involving SoftBank investments and stock market debuts.
Shares in ride-hailing app Uber Technologies have declined more than 30% since its listing.