Softbank, Japanese telecom and leading investment company said it will spend USD 4 billion to acquire more stakes in Yahoo Japan.
After this acquisition, Japan will hold nearly 45 percent stakes of Yahoo Japan.
On Wednesday, the company releases its forecast report and mention that with the additional stake in Yahoo, its revenue will rise to 4.8 trillion yen ($43.6 billion) in this fiscal year.
Softbank, the Japanese mobile subsidiary of Softbank Group Corp., listed its shares in December in Japan’s largest-ever initial public offering, at more than 2 trillion yen ($18 billion).
It now holds a 12 percent stake in Yahoo Japan, which will become a subsidiary of Softbank Corp. with the acquisition of a 36 percent stake in the internet company held by its parent.
Softbank Corp. says it expects a 480 billion yen (USD 4.4 billion) net profit in the current fiscal year.