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    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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SoftBank : to retire treasury shares after group's largest-ever buyback

04/28/2021 | 03:13am EDT
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo

TOKYO (Reuters) - SoftBank Group Corp said on Wednesday it would retire treasury shares worth 16.3% of its outstanding stock after the group's largest-ever buyback swelled its holdings.

The cancellation will leave the investment conglomerate holding as treasury stock 0.6% of total shares issued.

The move is "probably not a signal either way on future buybacks," said analyst Kirk Boodry at Redex Research, adding it is in line with industry practice.

SoftBank has spent more than 2.2 trillion yen ($20 billion) on buybacks since March last year, largely completing its buyback programme.

It launched the programme after a series of missteps forced the group to sell down assets to support its share price.

SoftBank's $100 billion Vision Fund is widely expected to post its largest-ever quarterly profit on May 12 with the listing of portfolio company Coupang Inc driving gains.

The cancellation of treasury shares will boost the ownership of its top shareholder, founder and chief executive Masayoshi Son, who holds a 25% stake.

The largest-ever gap between the value of SoftBank's assets and its share price last March led to debate over taking the group private before buybacks drove a recovery in the stock price.

SoftBank's shares are trading 7% down from two-decade highs hit last month.

($1 = 108.9700 yen)

(Reporting by Sam Nussey; Editing by Chang-Ran Kim and Christopher Cushing)

By Sam Nussey


ę Reuters 2021
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Financials
Sales 2022 5 953 B 53 925 M 53 925 M
Net income 2022 1 045 B 9 468 M 9 468 M
Net Debt 2022 13 879 B 126 B 126 B
P/E ratio 2022 12,8x
Yield 2022 0,63%
Capitalization 12 173 B 110 B 110 B
EV / Sales 2022 4,38x
EV / Sales 2023 4,22x
Nbr of Employees 58 786
Free-Float 47,1%
Chart SOFTBANK GROUP CORP.
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Technical analysis trends SOFTBANK GROUP CORP.
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TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 15
Last Close Price 7 106,00 JPY
Average target price 11 336,00 JPY
Spread / Average Target 59,5%
EPS Revisions
Managers and Directors
Masayoshi Son Chairman & Chief Executive Officer
Yoshimitsu Goto Chief Financial Officer & Senior Managing Director
Norikazu Oba Manager-Finance & Planning
Raul Marcelo Claure Chief Operating Officer & Vice President
Tim Mackey Chief Legal & Group Compliance Officer
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