Japan’s SoftBank has been making big bets on technology companies in recent years, with varying degrees of success. Its latest trade—selling key assets to buy back its own stock—should work better. The Japanese technology conglomerate said it planned to sell as much as ¥4.5 trillion ($41 billion) of its assets to buy back shares and redeem debt. Including ¥500 billion of buybacks announced two weeks ago, SoftBank would then spend as much as $22.7 billion to repurchase about 40% of its own stock. SoftBank’s stock surged 19%...

Source: Wall Street Journal March 23, 2020 10:18 UTC