You are here: Home » International » News » Companies
Business Standard

SoftBank unveils headquarters just as Covid-19 forces office decamp

Tokyo Portcity Takeshiba's biggest tenant will be SoftBank unit SoftBank Corp

Topics
SoftBank | Coronavirus

Reuters  |  TOKYO 

Softbank
Softbank

By Sam Nussey

TOKYO (Reuters) - Group Corp on Wednesday unveiled the building that will house its new WeWork-designed headquarters, in a long-planned move that comes just as the COVID-19 pandemic worldwide forces a shift away from office working.

Tokyo Portcity Takeshiba's biggest tenant will be unit Corp, whose Chief Executive Ken Miyauchi told reporters at the unveiling that 60% to 70% of the wireless carrier's employees are currently working remotely.

Excess space can be opened up to other group companies, Miyauchi said. Some of these are currently renting space around Tokyo from office sharing firm WeWork, which SoftBank has taken control of globally following a series of missteps at the U.S. startup.

The new development employs technology that supports social distancing, such as real time data on congestion at restaurants and SoftBank-developed robots for cleaning floors and making deliveries.

It also employs WeWork-style features like hot-desking, communal lounges and internal staircases that since the pandemic have raised infection concerns.

The move comes as group Chief Executive Masayoshi Son is loosening ties with the wireless carrier, with the group's stake in SoftBank Corp set to fall as low as 40%.

The sell-down of such core assets is funding SoftBank's bets on listed tech stocks, which have fuelled concern among investors about the group's opaque investing practices and sent its share price tumbling this week.

 

(Reporting by Sam Nussey; Editing by Christopher Cushing)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, September 09 2020. 09:53 IST
RECOMMENDED FOR YOU
.