SoftBank says WeWork Japan can become profitable 'in near future' uk.reuters.com

TOKYO (Reuters) - WeWork’s Japan unit can become profitable “in the near future”, the Japanese partner of the U.S. office-space sharing startup said on Tuesday, amid investor scepticism over its path to profitability.
FILE PHOTO: The logo of SoftBank Group Corp is displayed at the SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017.
REUTERS/Issei KatoWeWork Japan, a joint venture between the U.S. startup, telco SoftBank Corp (9434.T) and its parent SoftBank Group Corp (9984.T), is growing well with high occupancy rates, SoftBank Corp’s CEO Ken Miyauchi said.
SoftBank was forced to rescue WeWork last month following a flopped IPO attempt.
SoftBank Corp’s results follow those of rivals NTT Docomo (9437.T) and KDDI Corp (9433.T), which last week reported that profits fell 13% and rose 9%, respectively.