{"id":7217,"date":"2019-02-07T04:34:59","date_gmt":"2019-02-07T04:34:59","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/japans-softbank-shares-surge-on-buyback-plan\/"},"modified":"2019-02-07T04:34:59","modified_gmt":"2019-02-07T04:34:59","slug":"japans-softbank-shares-surge-on-buyback-plan","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/japans-softbank-shares-surge-on-buyback-plan\/","title":{"rendered":"Japan&#8217;s Softbank shares surge on buyback plan"},"content":{"rendered":"\n<div property=\"articleBody\">\n<figure class=\"media-landscape no-caption full-width lead\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                <img loading=\"lazy\" decoding=\"async\" class=\"js-image-replace\" alt=\"SoftBank Chief Executive Masayoshi San on stage at the company's earnings briefing.\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/C124\/production\/_105544494_gettyimages-1094519652.jpg\" width=\"976\" height=\"549\"\/><span class=\"off-screen\">Image copyright<\/span><br \/>\n                 <span class=\"story-image-copyright\">Getty Images<\/span><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p class=\"story-body__introduction\">Shares in Japanese tech conglomerate Softbank surged nearly 17% after its chief executive Masayoshi Son unveiled a $5.5bn (\u00a34.3bn) share buyback.<\/p>\n<p>Mr Son said the buyback will prop up the company&#8217;s share price, which he sees as chronically undervalued.  <\/p>\n<p>Softbank has stakes in dozens of technology companies through its Vision Fund. <\/p>\n<p>Mr Son said when these investments are counted properly, Softbank is worth far more than its current market value.   <\/p>\n<p>He announced the share buyback during an earnings briefing on Wednesday. <\/p>\n<p>Mr Son described the company&#8217;s shares as &#8220;too cheap&#8221;. <\/p>\n<ul class=\"story-body__unordered-list\">\n<li class=\"story-body__list-item\"><a href=\"https:\/\/www.bbc.co.uk\/news\/business-46189850\" class=\"story-body__link\">A quick guide to Softbank<\/a><\/li>\n<\/ul>\n<p>Softbank will pay for the buyback with the proceeds of the share market float of its domestic telecommunications business. <\/p>\n<figure class=\"media-with-caption\">\n<div class=\"player-with-placeholder\">\n            <img decoding=\"async\" class=\"media-placeholder player-with-placeholder__image narrative-video-placeholder\" src=\"https:\/\/ichef.bbci.co.uk\/images\/ic\/720x405\/p06w0lng.jpg\"\/><\/p>\n<p>Media playback is unsupported on your device<\/p>\n<\/p><\/div><figcaption class=\"media-with-caption__caption\"><span class=\"off-screen\">Media caption<\/span>How the Softbank share sale could change your life<\/figcaption><\/figure>\n<h2 class=\"story-body__crosshead\">Tech investments pay off<\/h2>\n<p>On Wednesday, the company also reported a 60% jump in third-quarter operating profit, lifted by rising valuations of its technology investments. <\/p>\n<p>Through the Vision Fund, Softbank has stakes in a number of ride-hailing companies like Uber, Grab and Didi Chuxing. <\/p>\n<p>It also hold stakes in Slack, WeWork and chip designer ARM.  <\/p>\n<p>However, the company sold its stake in US chipmaker Nvidia after weak demand for its gaming chips pushed its share value down by 50%. <\/p>\n<p>Softbank shares hit a high in September but tumbled on <a href=\"https:\/\/www.bbc.co.uk\/news\/business-46096128\" class=\"story-body__link\"> concerns about its financial ties to Saudi Arabia following the murder of Saudi journalist Jamal Khashoggi<\/a>. <\/p>\n<p>Saudi Arabia is the major investor in Softbank&#8217;s Vision Fund, which is worth around $100bn. <\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.co.uk\/news\/business-47153241\">Source<\/a> by <a href=\"\">[author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright Getty Images Shares in Japanese tech conglomerate Softbank surged nearly 17% after its chief executive Masayoshi Son unveiled a $5.5bn (\u00a34.3bn) share buyback. Mr Son said the buyback will prop up the company&#8217;s share price, which he sees as chronically undervalued. Softbank has stakes in dozens of technology companies through its Vision Fund. &hellip; <\/p>\n","protected":false},"author":0,"featured_media":7218,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7217","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/7217","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=7217"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/7217\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/7218"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=7217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=7217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=7217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}