TOKYO: Japanese telco SoftBank Corp's CEO Ken Miyauchi on Friday welcomed hedge fund Elliot Management's investment in parent SoftBank Group Corp saying the activist investor's assessment of the stock as undervalued was"positive".
The comments came as SoftBank Corp reported a 15per cent rise in third-quarter operating profit, beating estimates, underpinned by its mobile business. Founder Masayoshi Son built his fortune by breaking into Japan's telecoms market but his reputation could be determined by the performance of the US$100 billion Vision Fund, which will report at the group's results on Wednesday.