SOFTBANK TO BUY BACK $41 BILLION IN ASSETS TO TRIM DEBT
The Japanese technology and telecoms
company SoftBank said it plans to buy back up
to 4.5 trillion yen ($41 billion) of its assets as it
seeks to trim its gigantic debt burden.
The company’s founder, Masayoshi Son, said
the move reflected “the firm and unwavering
confidence we have in our business.”
Tokyo-based SoftBank will buy up to 2 trillion
yen ($18.1 billion) of its shares, Son said in a
statement. Earlier, SoftBank announced a 500
billion yen ($4.5 billion) share repurchase.