SoftBank taps Alibaba stake to raise $11.5bn after huge loss
"To have some cash on hand, we will pare down our assets," CEO and Chairman Masayoshi Son told a news conference.
SoftBank will use derivative contracts to be settled in a few years to raise cash from its stake in the Chinese e-commerce group.
While SoftBank appears to have no immediate cash flow problems, its Vision Fund, which had driven the Japanese technology earnings growth, has seen the value of some of its tech investments fall.
On Monday, SoftBank reported a 1.43 trillion yen net quarterly loss after big bets on real estate and ride-sharing misfired during the coronavirus pandemic.
Son warned on Monday that the titan might not pay a dividend next year after its largest ever annual loss as a public company. He told investors to expect a clutch of business failures within the Vision Fund, a $100bn vehicle backed by outside investors.
"About 15 of 88 companies [in the Vision Fund] may go bankrupt. Another 15 will grow significantly. The remaining will be so-so," Son said.
"Unicorns are falling into the corona[virus] valley," said Son, referring to the nickname for valuable tech startups.

NHK - May 26
Overall prices in the Japanese capital remain high as people continue to pay more for food and some services.

straitstimes.com - May 23
Japan’s slow post-pandemic recovery is showing signs of growing momentum, according to the latest gauges of strength in the service and factory sectors.

NOJ - May 21
Honda announced that it will start selling electric motorcycles to the general public for the first time in Japan.

NHK - May 20
Employees at some of Japan's biggest firms can expect a sizable bump in their pay checks this year. They'll see an average increase of nearly 4 percent following annual wage negotiations. That's the largest jump in 31 years.

Nikkei - May 19
Sony Group will spin off its financial unit to focus resources on entertainment and image sensor operations as the investment burden needed to compete with foreign rivals continues to rise.

Nikkei - May 19
China overtook Japan as the world's top auto exporter in the first quarter, spurred by rising demand for electric vehicles and increased deliveries to Russia.

Kyodo - May 19
Japan's trade deficit nearly halved to a one-year low of 432.41 billion yen ($3 billion) in April, as imports dropped for the first time in 27 months on lower crude oil prices, while U.S.-bound auto shipments delivered record exports, the Finance Ministry said Thursday.

Crypto Daily - May 18
Japan, which missed out on the Web2 revolution -- by failing to produce its own Meta, Google, Amazon, and Alibaba -- is now looking to regain its economic prowess by embracing the burgeoning crypto and Web3 industry.

straitstimes.com - May 17
Japan's economy expanded at a faster pace than expected in the first quarter as a further easing of pandemic regulations boosted consumption.

NHK - May 17
The benchmark index for the Tokyo Stock Exchange climbed above 30,000 for the first time in a year and 8 months. The gains reflect rising investor confidence amid robust earnings and improving forecasts at Japanese companies.

NOJ / TV Asahi - May 17
Seven major electric power companies in Japan have announced plans to raise prices from next month, as the government has virtually accepted the increase in regulated rates for households.

Business Insider - May 17
A Japanese millennial who uses AI to help solve a problem in the rapidly aging society has hit it big.

Bloomberg - May 17
Japan's biggest lenders are predicting their highest profits in years. Still, a cautious outlook is holding them back from returning surplus capital to shareholders.

NHK - May 16
The Tokyo Stock Exchange's benchmark index rose to its highest level this year on Tuesday. Semiconductor-related shares led the gains as investor confidence was boosted by the robust earnings forecasts of many companies.

Nikkei - May 16
In today's Japan, millions of vending machines dispense a mountain of goods and services ranging from green tea, umbrellas, canned cakes, bananas, omikuji fortunetelling slips, noodles, batteries, T-shirts and shampoo.

South China Morning Post - May 13
An exodus of money from China has turned into a lifeline for cash-strapped inns and hotels fighting to survive after years of Covid curbs