SoftBank Group Corp. is planning its second yen-denominated bond offering of 2021 after recently posting the biggest-ever quarterly profit by a Japanese company.
The technology conglomerate plans to issue ¥405 billion of bonds, targeting mainly individual investors, according to a statement by the group on Wednesday. SoftBank reported net income of ¥1.93 trillion for the three months ended March 31, with essentially all of that coming from its investment in the newly public Coupang Inc.
Masayoshi Son’s technology investment giant has seen a sharp upturn in fortunes over the past twelve months, with SoftBank’s Vision Fund investment arm driving recent profits after being the source of its biggest loss a year ago. SoftBank has long tapped individual investors in Japan rather than institutions for most of its yen funding from the local bond market, taking advantage of its strong brand recognition.