SoftBank CEO says investments have recovered to pre-epidemic levels

The president and CEO of SoftBank, Masayoshi Son, assured that the group’s investments, which have been causing concern, have recovered and already exceed their values ​​prior to the outbreak of the coronavirus pandemic. ” The value of the shares we own has recovered to 30 trillion yen (about 250,000 million euros or US $ 280,000 million), ” as of June 24, Son said during the company’s annual meeting of shareholders broadcast live on Internet and collected by the Japanese newspaper Nikkei.

This value is two trillion yen (16,600 million euros or US $ 18,660 million) higher than that of the end of March, the end of the Japanese fiscal year of 2019, in which the conglomerate registered the worst losses in its history, more than 8,900 million euros or US $ 9,990 million mainly due to bad investments.

According to data shown during the presentation, the value of SoftBank’s stake in US phone operator T-Mobile and Chinese e-commerce conglomerate Alibaba has increased. The Japanese company recently announced the sale of some of its shares in both companies as part of a strategic plan to raise 4.5 trillion yen (€ 37.32 billion or $ 41.98 billion) with which to buy back its own shares and reduce its debt.