BlackRock Doubles Its Stake in Son’s SoftBank Group to 5.2%

BlackRock Inc., the world’s largest asset manager, has more than doubled its stake in Masayoshi Son’s SoftBank Group Corp.

BlackRock Japan Co. owns 5.15% of SoftBank through a variety of entities, according to a filing with Japan’s Finance Ministry. That’s up from 2.5% previously, making the New York-based fund-manager SoftBank’s fourth-biggest shareholder after Son, Nomura Holdings Inc., and JPMorgan Chase & Co., data compiled by Bloomberg show.

SoftBank’s stock has more than tripled from its pandemic low in last year’s March, helped by an unprecedented $23 billion buyback. But as the repurchase program ended last week, the stock began to surrender gains absent a new commitment. The shares have tumbled 20% from a two-decade high in mid-March, even after it reported a fourth-quarter profit that was the highest ever for a listed Japanese company.

Son controls about a third of the company through various vehicles, Bloomberg data show. Nomura has a 6.84% stake, while JPMorgan owns 5.79%.

©2021 Bloomberg L.P.

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