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Masayoshi Son is stepping down as chairman of SoftBank Corp., completing a transition of leadership at the domestic telecommunication unit that had been at the center of his technology empire.

Ken Miyauchi, who has been chief executive officer, will move into the chairman’s role in Son’s place, while Junichi Miyakawa takes over as CEO, the company said in a statement. Son spun the wireless business out of his SoftBank Group Corp. in 2018 and has sold his stake down to about 40%, according to data compiled by Bloomberg.

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