SoftBank announces JPY 500 bln share repurchase

News General Japan 15 FEB 2016
SoftBank announces JPY 500 bln share repurchase

SoftBank Group has announced that its board of directors approved the repurchase of the company's own shares. The buyback may include up to 167 million shares or 14.2 percent of the total number of shares issued (excluding treasury stock). The total repurchase amount is up to JPY 500 billion.

The repurchase period covers 15 and 16 February. The proposed share repurchase will be funded through proceeds from sale of assets and cash on hand, but not through any debt procurement. During the past 12 months, SoftBank Group and its subsidiaries received approximately JPY 300 billion from the sale of investment securities and receipt of dividends.

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