ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintSite TitleTitle ChevronIcon Twitter
Business

SoftBank shares steady on hopes for Son's future actions

SoftBank Group's Masayoshi Son, right, and Nikesh Arora

TOKYO -- Shares of SoftBank Group have gained for three consecutive days, hitting 6,033 yen on Wednesday, up 3.2% from Tuesday's close.

The Japanese telecom giant on Tuesday announced the departure of President Nikesh Arora, effective Wednesday. Though some are concerned about possible management confusion, the shares are trading steadily so far, as expectations grow among investors for changes in the company's operations. Chairman Masayoshi Son reportedly said he would remain in his position for the next five to 10 years.

For the past nine months or so, the Japanese company has gained a total 2 trillion yen ($19.2 billion) from selling its stakes in businesses including China's Alibaba Group Holding, Japanese gaming business GungHo Online Entertainment and Supercell, a Finnish mobile game provider.

Norihiro Fujito at Mitsubishi UFJ Morgan Stanley Securities said that investors are buying SoftBank shares on expectations that Son will make some dramatic decisions on investment.

(NQN)

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends July 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media