SoftBank puts $41bn of assets up for sale as it tries to cut debt

Tech conglomerate mulls $17bn share buyback to strengthen balance sheet

SoftBank Group CEO Masayoshi Son attends a press conference in 2019. The conglomerate plans to sell or cash in up to 4.5 trillion yen ($41 billion) in assets to buy back shares and reduce debt. (Photo by Ken Kobayashi)

WATARU SUZUKI, Nikkei staff writer

March 23, 2020 15:11 JST

Updated on March 23, 2020 19:05 JST

TOKYO -- SoftBank Group plans to sell or cash in up to 4.5 trillion yen ($41 billion) in assets to buy back shares and reduce debt, in a sign that CEO Masayoshi Son is scaling back his aggressive investment strategy amid concerns over the group's financial health as the coronavirus crisis deepens.