SoftBank Has Spent $2.3 Billion to Buy Own Shares Since March
- It bought nearly 59 million shares, 40% of its planned buyback
- SoftBank to buy up to 500 billion yen of shares by next March
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SoftBank Group Corp. spent about $2.3 billion in the past two months buying back its own shares, adding market support as the Japanese company prepares to report record losses next week.
The company bought 250.6 billion yen of its own stock since March 13, about half of the 500 billion yen budget for the re-purchase slated to run through next March. It purchased 58,648,400 of its own stock as of April 30, amounting to roughly 40% of the 145 million planned total, SoftBank said in a statement on Friday.