Japan SOFTBANK in $ 4.4 billion to buy back shares
Japan telecoms giant SOFTBANK Group said 15th, will spend 500 billion yen in a year (about US $ 4.4 billion) to buy back 14.2% shares in the company, which was the biggest share buy-backs in the history of the company. SOFTBANK said the repo income would come from available cash and the sale of assets without issuing new debt, the company did not disclose which assets will be sold.
under the influence of investor concerns about the company's business prospects this year, SOFTBANK's share price fell sharply, down 28% before the trimtabs, shares fell to 2013 SOFTBANK acquired United States telecom operator Sprint since the company's lowest level. SOFTBANK spokesman said that taking into account the current level of share prices, "current is a good time to return to shareholders. "
repurchase programs boost SOFTBANK shares 15th in Japan rose 5.7% in stock market trading, rose less than the broader market.
SOFTBANK reported last week, in its latest quarter ended on December 31 last year, operating profit rose from 7% to 189.6 billion yen (about US $ 1.67 billion), better than market expectations, revenue grew by 4% to 2.39 trillion yen.
, according to Bloomberg data, as at December 31 last year, SOFTBANK has a 2.8 trillion yen cash or equivalents, and total debt of up to 12.3 trillion yen.