SoftBank to shift its stance to 'offence mode', says CEO Masayoshi Son

SoftBank Group CEO Masayoshi Son said on Wednesday that his tech investing conglomerate plans to shift its stance to "offence mode" after having cut back its investing activity to shore up its finances.

"The time has come to shift to offence mode," Son told shareholders at the group's annual general meeting.

The group had retreated into a defensive stance after booking heavy investment losses at its Vision Fund investing arm.


SoftBank reported a net loss of 970 billion yen ($6.85 billion) for the year ended March 31, cushioning losses at the Vision Fund unit by selling down its stake in Alibaba.

Chief Financial Officer Yoshimitsu Goto last month said that the group wants to ensure the group does not miss investment opportunities, moderating its previous emphasis on defence.

On Wednesday Son, who has stepped back from public pronouncements in recent months, spent much of his presentation to a loyal retail investor base speaking about his excitement over advances in artificial intelligence.

Son said he asked ChatGPT, the AI-powered chatbot from startup OpenAI, to write new adventures for Astro Boy, the classic manga series by Tezuka Osamu.

"AI was creating the story as if it were human," he said. ($1 = 141.5900 yen)