SoftBank To Spend $4 Billion To Hike Stake In Yahoo Japan
SoftBank Corp. will spend 456.5 billion yen, or about $4 billion, to increase its stake in Yahoo Japan to nearly 45 percent. With the additional stake in Yahoo, its revenue will rise to 4.8 trillion yen, or $43.6 billion, in this fiscal year, the company said.
It currently holds a 12 percent stake in Yahoo Japan, which will become a subsidiary of SoftBank with the acquisition of a 36 percent stake in the internet company held by its parent.
SoftBank said it expects a 480 billion yen ($4.4 billion) net profit in the current fiscal year.