SoftBank Group Corp.’s founder Masayoshi Son said he has $80 billion (¥8.3 trillion) in cash to buy back more shares and continue investing in both private and public companies.
"If our shares drop down, I will buy back more shares more aggressively,” the chief executive officer said at the New York Times DealBook conference Tuesday. "We have $80 billion in cash at hand.”
After a record fall in its share price in March, SoftBank unveiled plans to offload ¥4.5 trillion in assets and buy back ¥2.5 trillion of its own stock. The idea of going private through a buyout has been discussed within SoftBank for at least five years, but Son declined to comment on whether he would take his company off the stock market.
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