SoftBank Has Spent $2.9 Billion Buying Back Its Own Shares Since March
This article is for subscribers only.
SoftBank Group Corp. has spent about $2.9 billion in the past three months buying back its own shares, adding market support as the Japanese company struggled with falling global tech valuations.
The company has bought 311.7 billion yen ($2.9 billion) of its own stock since March 13, about 62% of the 500 billion yen budget for re-purchases slated to run through next March. It had acquired 71,536,700 shares of its own stock as of May 31, SoftBank said in a statement on Friday.