Hong Kong (CNN Business) Shares in SoftBank fell as much as 4% in Tokyo on Thursday after the company reported worse than expected losses for the third quarter.

reported operating losses of $6.5 billion after market close on Wednesday, weighed down by a massive hit to its tech fund. The Vision Fund has been hit by big losses in portfolio companies such asand WeWork.

The stock recovered some of its losses by mid-morning Thursday and was last trading down about 2.5%.

SoftBank founder and CEO Masayoshi Son admitted he turned a "blind eye" to governance problems at WeWork, and said he learned a "harsh lesson" from the office sharing company's botched IPO attempt.

Bernstein analyst Chris Lane said in a research note Wednesday that Son's rescue package of WeWork "will vastly improve the return profile." He predicts that with better corporate governance and cost controls, WeWork "will turn cash flow positive in [about] 18 months."

Toyota TM , meanwhile, rose 0.9% in Tokyo after the company reported strong profits. The carmaker reported net profit of 1.27 trillion yen ($11.7 billion) for the first half of the year, a 2.6% increase over the same period last year.

Hong Kong Exchanges and Clearing HKXCF In Hong Kong, shares infell 0.5%.