Ahead of the launch, Softbank Chairman and Chief Executive Officer Masayoshi Son is now on a visit to Saudi Arabia.

Last October, the Japanese company and a state-affiliated fund in the Middle East nation signed a memorandum of understanding on the planned fund. Softbank and the Saudi side are expected to contribute 25 billion dollars and 45 billion dollars, respectively, to the Softbank Vision Fund over the next five years.

On Thursday, Japanese electronics maker Sharp Corp.  which is rebuilding its operations under major Taiwanese contract electronics manufacturer Hon Hai Precision Industry Co., announced its plan to offer up to one billion dollars to the fund.

Other contributors will include Hon Hai, also known as Foxconn Technology Group, and US technology giants Apple Inc. and Qualcomm Inc. (Jiji Press)