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SoftBank and Toshiba lead pack of cash-rich Japanese companies

Shareholders demand strategic investment or share buybacks

SoftBank issued hybrid bonds to raise cash. (Photo by Tsuyoshi Tamehiro)

TOKYO -- Toshiba and SoftBank Group ranked atop Japanese companies with huge cash holdings as of June, with a memory unit sale boosting the balance at the machinery maker and debt offerings replenishing the reserves at the investment conglomerate. 

Toshiba logged an increase of $13.3 billion to $17.9 billion in cash on hand over a year through the end of June thanks to proceeds from selling off the memory chip unit.

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