SoftBank to Buy Back up to 12% of Shares for $9.6 Billion
- Japan tech giant unveils fourth repurchase program this year
- Shares have surged to the highest level in two decades
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SoftBank Group Corp. unveiled a fresh program to buy back almost $10 billion of its own stock, adding to repurchase plans that have helped lift shares this year.
The Tokyo-based company said it would buy back as much as 12.3% of its stock for 1 trillion yen ($9.6 billion) under a program that would would run through July 2021, the fourth such program announced this year. The company has said it plans to sell 4.5 trillion yen in assets to fund repurchases and other activities.