Arrow Artboard Created with Sketch. Artboard Created with Sketch. Title Chevron Title Chevron Icon Facebook Icon Linkedin Icon Mail Contact Path Layer Icon Mail Positive Arrow Icon Print SoftBank SoftBank shares tumble despite $4.7bn buyback Boosting shareholder return responds to activist proposal but fails to stem sell-off SoftBank CEO Masayoshi Son: The massive stock buyback will try to shore up the conglomerate's tumbling share price. (Photo by Ken Kobayashi)
WATARU SUZUKI, Nikkei staff writer March 13, 2020 10:39 JST Updated on March 13, 2020 16:00 JST | Japan
SoftBank Group on Friday announced a 500 billion yen ($4.7 billion) stock buyback program as it tries to halt its share price decline and quiet pressure from an activist investor.
SoftBank will buy up to 145 million shares, or 7% of its outstanding shares, it said in a filing shortly after trading began in Tokyo on Friday. The buyback program will start on Monday.
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