SoftBank Announces $3.4 Billion Share Buyback Following Investment Gains

The tech giant aims to boost stock value amid market volatility and investor pressure.

SoftBank reported a $12.9 million investment gain from its Vision Fund in Q1 FY2024.
The company plans to repurchase up to 6.8% of its shares over the next year.
SoftBank's net profit for the quarter was 10.4 billion yen, recovering from a significant loss a year earlier.
Investor pressure, particularly from Elliott Management, influenced the buyback decision.
SoftBank's founder, Masayoshi Son, emphasizes the company's focus on AI investments.