FILE PHOTO: SoftBank Corp. President and CEO Ken Miyauchi in Tokyo, Japan December 19, 2018. REUTERS/Issei Kato TOKYO (Reuters) - SoftBank Corp 9484.T 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 (9984.T), 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
WeWork Japan is growing well and has high occupancy rates, according to one of its senior executives. The company is a joint venture with SoftBank Corp and its parent SoftBank Group. “People are coming from all over the world for this kind of work,” said Yoshiaki Ito, chief executive officer at WeWork.