Japan’s SoftBank cuts borrowing from Mizuho, Goldman Sachs – Reuters.com
- Date: 30-May-2022
- Source: Reuters
- Sector:Economy
- Country:Middle East
Japan’s SoftBank cuts borrowing from Mizuho, Goldman Sachs – Reuters.com
TOKYO, May 30 (Reuters) - SoftBank Group Corp (9984.T) trimmed borrowing from its main bank Mizuho Financial Group Inc (8411.T) by 4.5% in the year ended March to 812 billion yen ($6.38 billion), a filing showed.
Borrowing by the Japanese tech conglomerate from JPMorgan Chase & Co (JPM.N) fell 23% to 637 billion yen and from Goldman Sachs Group Inc (GS.N) fell 39% to 364 billion yen.
The disclosure ahead of the group's annual general meeting on June 24 comes after SoftBank reported a record investment loss at its Vision Fund unit due to weakness in tech stock valuations.
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