TOKYO (Reuters) – SoftBank Group Corp <9984.T> 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.
(GRAPHIC – Shopping Spree: https://fingfx.thomsonreuters.com/gfx/editorcharts/xlbvgganlvq/eikon.png)
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.
(Reporting by Sam Nussey; Editing by Jason Neely and David Goodman)
