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Japan-Update

SoftBank to follow Buffett playbook with insurance investment

Minority stake would provide source of capital for bolder buys

SoftBank Group Chairman Masayoshi Son.

TOKYO -- SoftBank Group's plans to invest in a Swiss reinsurer suggests that the Japanese information technology heavyweight has taken a page out of Warren Buffett's playbook in its search for reliable revenues to fund riskier acquisitions.

The Tokyo-based group centering on a mobile phone carrier is in talks to buy up to one-third of outstanding shares in Swiss Re at a price that could top $10 billion. The insurer revealed in early February that preliminary talks were underway.

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