SoftBank Group chairman Masayoshi Son. (Photographer: Kiyoshi Ota/Bloomberg)

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.

SoftBank, the Japanese mobile subsidiary of SoftBank Group Corp., listed its shares in December in Japan's largest-ever IPO at more than 2 trillion yen ($18 billion).

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.

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