SoftBank Corp. announces an Equity Buyback for 80,000,000 shares, representing 1.68% for ¥100,000 million.
August 28, 2020 at 02:30 am EDT
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SoftBank Corp. (TSE:9434) announces an share repurchase program. Under the program the company will repurchase 80,000,000 shares, representing 1.68% of the outstanding shares for ¥100,000 million. The purpose of the program is to save shares in preparation for future exercises of stock options and to enhance the flexibility of the capital policy. The program will run until March 31, 2021. As of June 30, 2020, the company had 4,749,314,070 shares outstanding and 37,831,100 shares in treasury.
SoftBank Corp. is one of the principal Japanese telecommunications operators. Revenue by type of activity breaks down as follows:
- mobile telecommunications services for private individuals (53.1%): mobile telephony services, broadband data services, sales of mobile telephones and accessories, etc.;
- Internet services (22.7%): portals for e-commerce, online auctions, data and content, advertising services, etc.;
- telecommunications services for businesses (13.1%): fixed and mobile telecommunications services, data transmission and interconnection services, hosting and cloud services, leasing, construction and maintenance of telecom infrastructures, sales of Internet of Things solutions, etc.;
- sales of telecoms and IT equipment and accessories (9.2%);
- other (1.9%).
SOFTBANK CORP. 
