SoftBank's share buybacks slowed in May, a company filing showed on Friday, although total purchases to support its share price since March reached 312 billion yen ($2.9 billion).
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato
The buybacks, funded by a major asset sale programme, are part of a record up to 2.5 trillion yen undertaking by SoftBank, which spent 61 billion yen buying back its shares in May, compared with 235 billion yen in April.“Market sentiment was strong for its underlying holdings so SoftBank may have decided to keep some powder dry,” said Kirk Boodry, analyst at Redex Research.
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