SoftBank's Son says Japan lacks investment opportunities, is AI 'developing country'

TOKYO: SoftBank Group Corp founder and Chief Executive Masayoshi Son said on Thursday that there is a dearth of investment opportunities in Japan, which he said is lagging in the race to develop artificial intelligence .

"Until recently Japan was at the technological leading edge. In the most important current technology revolution – artificial intelligence – Japan has become a developing country," Son said at an annual SoftBank event for suppliers and customers.

"Unfortunately there are virtually no companies that can be called global No. 1 unicorns," Son said of Japan, referring to startups reaching US$1 billion valuations.

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