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SoftBank CEO Masyoshi Son

SoftBank CEO Masyoshi Son- Buybacks remain an option

Amid a slide in SoftBank’s shares, its CEO, Masayoshi Son recently stated that share buybacks still remain an option. Mr. Son said that buybacks are always on his mind as an important option, but when and how requires in-depth thinking.

In SoftBank’s annual shareholders’ meeting he added that the group should also focus on alternative uses of its capital.

SoftBank shares completed a record 2.5 trillion yen buyback program in May. However, the stocks successfully slid amid weakness in the tech stocks. This has helped the bank to increase its conglomerate discount to about 50% and to widen the gap between the value of its assets and share price.

Son addressed the shareholders and told them to take a long-term view on the company because he believes that SoftBank’s potential is much bigger than the discounted share price.