FIRST AIRED: November 5, 2018

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Transcript

00:00:01
>> The head of Japanese investment giant, SoftBank condemned the killing of a Saudi journalist on Monday, while defending the huge Saudi investments in the group. SoftBank CEO, Masayoshi Son, was speaking in Tokyo for the first time since journalist Jamal Khashoggi was murdered last month. Saudi Arabia is the biggest investor in SoftBank's $93 billion Vision Fund.
00:00:25
Son reported a surge in quarterly profit on Monday. The Saudi-fueled fund gave Son the firepower to make big bets on late stage startups, from Uber to GM's self-driving Cruise unit. But outcry over Khashoggi has led many observers to see dependence on Saudi money as a risk. Reuter's Ritsuko Ando explains what's at stake.
00:00:48
>> Until last month, the market saw that tie as a huge benefit to the fund, allowing it to invest in startups all over the world ranging from the ride share to office sharing companies. But now it's seen more as a reason for caution. So everyone wants to know, should SoftBank be so dependent on Saudi Arabia given speculation that the order to kill Kishoggi could have come from high levels of Saudi government.
00:01:13
Also, might startups start turning down its funds because of the Saudi tie?>> Worries about the Saudi fallout, and a global route in tech stocks have seen SoftBank's share price dive, dropping 24% since a September high. And it's all come at a tricky time, as SoftBank prepares for an IPO of its telco-op.
00:01:34
>> It's a highly sensitive time for SoftBank, with investors suddenly turning cautious on the company. Which really was, for years, a highly successful tech company. The IPO comes at a time when the Japanese government's been calling on telco's to lower their fees so consumers can spend their money elsewhere.
00:01:51
>> Market insiders say if all goes well, the IPO could top the $25 billion worth of shares sold by Alibaba in 2014.