Deals
SoftBank Doubles Buyback Plans While Jack Ma Leaves Board
- As much as 1 trillion yen allocated to repurchase until March
- SoftBank CFO and two external directors to join the board
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SoftBank Group Corp. doubled the amount it plans to spend buying back shares and announced changes to its board, including the resignation of long-time director Jack Ma.
The company plans to repurchase as much as 500 billion yen ($4.7 billion) worth of its own stock by March 2021, it said in a statement. That’s on top of an equally sized repurchase it had announced in mid-March.