SoftBank Group Corp. surged in Tokyo trading after Alibaba Group Holding Ltd. announced a six-way split of its businesses, fueling optimism for a recovery at one of the Japanese company’s most important holdings. “The expectation is for the spinoff units to have their businesses properly valued, which will boost Alibaba’s overall corporate value.” SoftBank founder Masayoshi Son has relied on …
SoftBank Group Corp. resumed buying back shares in September, shelling out ¥40.1 billion after suspending in August a multi-billion-dollar program that’s proven instrumental in buoying the stock. Masayoshi Son’s conglomerate bought back 6.17 million shares last month, it said in a filing Wednesday, part of a now half-completed 2.5 trillion yen buyback program. The Japanese company resumed buying on Sept. …
