, Japan

SoftBank CEO assures US investors he'll be more cautious

Hedge fund Elliott Management is urging the firm to buy back some $20b of stock.

SoftBank Group chief executive Masayoshi Son told US investors that he’ll be more careful after several investments, including office-sharing firm WeWork, went south, Reuters reports.

Hedge fund Elliott Management has had discussions with SoftBank management and is urging the company to buy back some $20b of its stock and increase its board’s independence and transparency.

Son said he has not considered opinions of investors and the company’s independent board members, pointing to SoftBank’s stock trading at a big discount to the value of assets as an opportunity for investors to buy in.

His investment on companies heavy on disruptive technology has helped make him one of the world's wealthiest investors, but it has also led to blunders that have blemished SoftBank's performance.

Join Asian Banking & Finance community

Most notable was WeWork, in which SoftBank invested billions of dollars in to back former CEO Adam Neumann before bailing the company out to replace him.

Here’s more from Reuters.

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Lorem Ipsum Content on ABF
The text to display in the title bar of a visitor's web browser when they view this page. 
Lorem Ipsum
Contrary to popular belief, Lorem Ipsum is not simply random text.