Softbank Group To Sell 4.5 Tril. Yen In Assets

SoftBank Group to sell 4.5 tril. yen in assets

SoftBank Group is selling assets worth up to 4.5 trillion yen, or about 41 billion dollars. The Japanese IT giant will use the money to buy back its shares and reduce debt over the next 12 months.

Chairman and CEO Masayoshi Son says the move will strengthen the firm's balance sheet while significantly reducing debt. The coronavirus pandemic caused the group's share price to fall by half in the past month.