Why SoftBank must make hard choices to unlock value

Masayoshi Son's SoftBank Group long ago established its reputation as a visionary, value-creating investor. Perhaps it’s best known deal was its savvy backing of a then-nascent Alibaba – now a worldwide internet titan – in 2000. But its labyrinthine structure, leverage and lack of disclosure on the how it collects fees for managing its $93 billion Vision fund are own goals that detract from its value.