SoftBank to Buy Back Up to 400 Billion Yen of Shares

SoftBank Group Corp. said it will buy back up to 400 billion yen of its own shares, seeking to give its stock support after it reported a record 3.16 trillion yen ($23.4 billion) net loss.

The Japanese conglomerate has increasingly turned to repurchasing its own shares after suffering declines in the value of its investments. The company last said in November that it would buy back up to 1 trillion yen of its shares.