SoftBank's Masayoshi Son sees stake grow to 34% amid buyout rumors

Buybacks have concentrated more power in hands of billionaire founder

20221209N Masayoshi Son REUTERS

SoftBank Group Chairman and CEO Masayoshi Son now has the power to veto special shareholder resolutions. © Reuters

TAIZO WADA, Nikkei staff writer

TOKYO -- SoftBank Group Chairman and CEO Masayoshi Son now controls more than a third of the Japanese technology investment giant, recent disclosures show, after a spate of stock buybacks shrank the number of shares trading on the market.

At the end of November, Son held 34% of SoftBank Group's outstanding shares either directly or through entities linked to him, up from 32% in September, according to filings made by the company and Son to Tokyo's Kanto Local Finance Bureau.

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