SoftBank buybacks pick up in June; $4.7 billion spent in total
Reuters
Published Jun 15, 2020 05:36AM ET
Updated Jun 15, 2020 05:55AM ET
By Sam Nussey
TOKYO (Reuters) - SoftBank Group Corp (T:9984) share buybacks accelerated in June, with a total of 499.9 billion yen ($4.66 billion) spent on buying back 107.7 million of its shares since March, a company filing showed on Monday.
The tech conglomerate spent 188.3 billion yen buying back 36.1 million shares between June 1 and June 15, compared with 61 billion yen in May.
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The buybacks are funded by asset sales intended to raise up to $41 billion as CEO Masayoshi Son takes measures to stabilise the group that reported a record annnual loss in May after tech investments soured.
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Written By: Reuters
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