Holding SoftBank, owned by one of the richest people in Japan, Masayoshi Son, decided to cut investments in Chinese companies because of the increasing pressure from Beijing on them.

The company will take a “wait-and-see” attitude for one to two years and will watch the situation in the Chinese technology market become clearer. “We will proceed with caution until we understand how the new regulations work. When everything is clear, we will resume investments,” said Son.