SoftBank announces 500 billion yen share buyback in the first quarter, resulting in a deficit of 174.2 billion 80 million yen
On the 2nd, the SoftBank Group announced a stock repurchase program of up to 500 billion yen in response to rapid sales in the previous month, which cancelled most of the stock price increases since the beginning of this year.
SoftBank also announced the latest financial results, and financial results for the first quarter up to the end of June were in deficit of 174.2 billion 80 million yen, which was lower than 477.6 billion 20 million yen in the same period last year. It is a chip subsidiary of the company $Arm Holdings (ARM.US)$ The firm's strong profits helped offset continued losses in Vision Fund assets.
SoftBank's stock price fell the most since 1998 on Monday, but mostly recovered on Tuesday and Wednesday. However, the total market value still falls short of about 40 billion dollars to the all-time high recorded in July.
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