Hard times for SoftBank

COMPANIES AND financial vehicles that get into trouble often have common characteristics: high debts, accounting that is hard to understand, opaque assets that are hard to value and managers who have a hard time facing reality. That more or less fits the description of SoftBank, a giant Japanese telecoms and technology conglomerate founded and run by Masayoshi Son, which on November 6th announced a $6bn loss after bailing out WeWork, a loss-making property firm. Speaking in Tokyo, Mr Son put on ...