Softbank’s Son Hedges Yen to Save $2 Billion on Sprint Deal

Masayoshi Son became Japan’s second-richest man by knowing when to take a risk. He also knows how to avoid one.

The chairman of Softbank Corp. hedged the company’s $20 billion purchase of Sprint Nextel Corp. by fixing the cost of dollars needed for the acquisition at 82.2 yen each. The move will save him at least $2 billion as the yen has weakened about 15 percent since the deal was announced Oct. 15.