Jul 28, 2016

SoftBank profit rises on proceeds from Alibaba stake sale

SoftBank Group Corp.’s first-quarter profit rose 19 percent as proceeds from selling part of its stake in Alibaba Group Holding Ltd. helped offset losses at Sprint Corp. Net income at the carrier rose to ¥254.2 billion in the three months ended June 30, the ...

Jul 19, 2016

SoftBank shares dive on concerns over balance sheet

Shares in SoftBank Group Corp. plunged in Tokyo on Tuesday after it unveiled its ¥3.3 trillion takeover of chip designer ARM Holdings PLC, a deal that marks founder Masayoshi Son’s biggest gamble so far on the future of technology. The shares dropped as much ...

SoftBank heir apparent Arora to resign over succession timeline

Jun 21, 2016

SoftBank heir apparent Arora to resign over succession timeline

A former Google executive who was seen as the heir apparent to the founder of mobile communications giant SoftBank has resigned because of a conflict over the timeline for his succession, the company announced Tuesday. SoftBank had just hours earlier cleared Nikesh Arora after ...

SoftBank gets serious about tackling debt with asset sales

Jun 6, 2016

SoftBank gets serious about tackling debt with asset sales

After years of acquisitions saddled SoftBank Group Corp. with record debt and weighed down its stock, founder Masayoshi Son is getting serious about improving the company’s balance sheet. SoftBank has announced a series of asset sales as part of a broader effort to re-examine ...

SoftBank to raise $8.9 billion from Alibaba sale

Jun 2, 2016

SoftBank to raise $8.9 billion from Alibaba sale

SoftBank Group Corp. said Thursday its sale of Alibaba Group Holding Ltd. stock will raise $8.9 billion, an infusion of cash that can be used to strengthen the company’s balance sheet and allow it to act fast when making strategic investments. Alibaba is paying ...