Investor activism

Softbank’s buyback plan is a face-saving gesture

Softbank’s latest buyback programme marginally addresses shareholder demands; it is an act of goodwill rather than an inflection point for the company’s investment priorities.

Japanese conglomerate Softbank announced a share buyback programme worth ¥500 billion ($5 billion) on March 13, the first since Elliott Management, the US investment fund known for shareholder activism, acquired a near three percent position in early February. Softbank last repurchased shares worth ¥600 billion in February 2019.

¬ Haymarket Media Limited. All rights reserved.

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