Reported 2 months ago
SoftBank Group Corp. has unveiled a ¥500 billion ($3.4 billion) share buyback initiative following substantial market selloffs and activist investor Elliott's pressure to increase the stock price. The buyback is set to purchase up to 6.8% of its outstanding shares in the coming year. SoftBank's founder Masayoshi Son, known for leveraging buybacks during downturns, is also pivoting towards significant investments in AI. Despite reporting a smaller net loss this quarter, the company continues to navigate challenges with its Vision Fund's troubled investments.
Source: YAHOO