Resolution regarding Share Repurchase
(Share repurchase under the provisions of SBG's Articles of Incorporation pursuant to Article 165, Paragraph 2 of the Companies Act of Japan)
SoftBank Group Corp. (“SBG”) announces today that its Board of Directors resolved the repurchase of its own shares pursuant to Article 156 of the Companies Act of Japan as applied pursuant to Article 165, Paragraph 3.
1. Reason for share repurchase
SBG has decided to repurchase its own shares to enhance shareholder returns and to realize fair shareholder value by rectifying the situation where SBG shares are traded at a deep discount to NAV (Net Asset Value, calculated as the value of shares held minus adjusted net interest-bearing debt).
While being firmly committed to existing financial policies regarding SBG’s LTV (Loan to Value, calculated as adjusted net interest-bearing debt ÷ equity value of holdings) and cash position, SBG will flexibly repurchase its shares while considering investment opportunities for sustainable growth and the level of NAV discount, among others. Depending on the balance of these factors, there is a possibility that the share repurchase may not reach the upper limit of 1 trillion yen within the repurchase period resolved at this time.
SBG plans to retire the acquired treasury stock.
2. Details
| (1) Class of shares to be repurchased: | Common stock of SBG |
|---|---|
| (2) Total number of repurchasable shares: | 250,000,000 (maximum) (14.6% of the total number of shares issued excluding treasury stock) |
| (3) Total repurchase amount: | JPY 1 trillion (maximum) |
| (4) Repurchase period: | From November 9, 2021 to November 8, 2022 |
Reference:
Treasury stock held as of October 31, 2021
| Total number of shares issued (excluding treasury stock): | 1,713,696,790 shares |
|---|---|
| Number of treasury stock: | 9,256,940 shares |
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