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05

SoftBank Gets Serious About Tackling Debt With Asset Sales

By Tony Seruga

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Billionaire Masayoshi Son, chairman and chief executive officer of SoftBank Group Corp., speaks during a news conference.

Photographer: Tomohiro Ohsumi/Bloomberg

SoftBank is raising money by selling stakes in Alibaba, GungHo
Japanese company is seeking to boost cash and pay down debt

After years of acquisitions saddled SoftBank Group Corp. with record debt and weighed down its stock, founder Masayoshi Son is getting serious about improving the company’s balance sheet.

SoftBank has announced a series of asset sales as part of a broader effort to reexamine its technology portfolio, reduce its massive debt load and gain flexibility for future investments. The Japanese company plans to raise $10 billion from selling down its stake in China’s Alibaba Group Holding Ltd. and another 73 billion yen ($685 million) from offloading shares in GungHo Online Entertainment Inc. It’s also in discussions to exit Finnish game developer Supercell Oy, according to people familiar with the matter, a deal that could increase the amount raised via asset sales to $14 billion…

SoftBank Gets Serious About Tackling Debt With Asset Sales

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