The company's founder, Masayoshi Son, said the move reflected "the firm and unwavering confidence we have in our business."
Acting at a time when the coronavirus outbreak has ramped up uncertainty for many industries, the company said it will spend the remaining 2.5 trillion yen on debt redemptions, bond buybacks and increasing its cash reserves.SoftBank Group Corp.'s share price jumped 18.6% on Monday to 3,187 yen . SoftBank's profit dropped to 55 billion yen in the last quarter after it posted losses of 700 billion yen in the July-September quarter. The damage came largely from its Vision Fund, created to invest in startups like the shared office space venture WeWork and ride-hailing company Uber.
Adding to the company's challenges has been SoftBank's bailout of WeWork last year. That invited scrutiny after WeWork, which bills itself as both a technology and real-estate company, cancelled an initial public offering.