Ma Yun will withdraw from the board of directors of Softbank after 13 years

category:Global
 Ma Yun will withdraw from the board of directors of Softbank after 13 years


Sun Zhengyi, the chief executive of Softbank, has resigned from the board of directors successively in his circle of friends, including Tadashi Yanai, chairman and chief executive of UNIQLO group, who resigned at the end of 2019. He has served as a director of Softbank for 18 years, Shigenobu Nagamori, the chief executive of Japans power industry, and left the board of directors in 2017.

In the history of Softbanks official website, Alibaba invested 20 million US dollars in 2000 as the beginning of its leading information revolution. This investment is Softbanks most valuable investment at present.

Softbank will report its results for the fiscal year ended March 31 later Monday. Before that, however, many of its investments were in crisis. On April 13, Softbank group released a statement updating its financial performance forecast for the whole year, that is, in fy2019, Softbank vision fund is expected to record an investment loss of about 1.8 trillion yen (about $17 billion).

Softbanks share price began to rise from the end of March. On the 23rd of that month, Softbank announced that the board of directors had approved the sale of realized assets, raised up to 4.5 trillion yen (about 41 billion US dollars) in the next year, authorized the repurchase of 2 trillion yen (about 18 billion US dollars) of common shares, and the remaining funds would be used for debt redemption, bond repurchase and increased cash reserves.

(function() {(window. Slotbydup = window. Slotbydup| []). Push ({ID: u5811557, container: ssp_, async: true});)) (); on May 18, in its new 2 trillion repurchase scale, the board of directors approved to purchase up to 500 billion yen of shares before March 31, 2021. The board of directors will determine the time and amount of the remaining part after observing the current repo progress. However, Mas exit did not affect the other 10 Softbank board members. At the same time, Softbank disclosed three newly nominated directors, namely Yoshimitsu goto, chief financial officer of Softbank, Chen Liwu, CEO of semiconductor design company cadence design systems and founder and chairman of venture capital Huadeng international, and Yuko kawamoto, Professor of Waseda business school. The latter two are external independent directors. Relevant recommendation: Softbank will buy back shares with 500 billion yen. Ma Yun will resign from the board of directors. Ma Yun: being an Ali is not to make money. He has been working as an artwork. Source: new Beijing News Editor in charge: Cao bin_na5394

On May 18, the board of directors of Softbank approved the purchase of up to 500 billion yen of shares by March 31, 2021 in its new 2 trillion repurchase scale. The board of directors will determine the time and amount of the remaining part after observing the current repo progress.

However, Mas exit did not affect the other 10 Softbank board members. At the same time, Softbank disclosed three newly nominated directors, namely Yoshimitsu goto, chief financial officer of Softbank, Chen Liwu, CEO of semiconductor design company cadence design systems and founder and chairman of venture capital Huadeng international, and Yuko kawamoto, Professor of Waseda business school. The latter two are external independent directors.