Masa Son says SoftBank is sticking with Saudi Arabia

The CEO and founder of Japan's SoftBank (SFTBF) on Monday expressed "strong regret" over the killing of Saudi journalist Jamal Khashoggi, but said his company can't turn its back on its financial ties to Saudi Arabia.

The killing of Khashoggi in the Saudi consulate in Istanbul was "a terrible incident that should never have happened," Son said Monday in his first public appearance since an international outcry erupted over the journalist's fate.

But he added that SoftBank had "received funds to invest from the people of Saudi Arabia." As horrific as the killing was, the company believes it should "fulfill its responsibility for the future of the Saudi people," Son said at the start of an earnings presentation in Tokyo.

Son has built up strong ties with the Saudi government and Crown Prince Mohammed bin Salman. The kingdom provided nearly half the $93 billion that SoftBank raised for its tech-focused Vision Fund, which has made big investments in startups such as WeWork and Slack.

Yoko Wakatsuki contributed to this report.

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