SoftBank Corp. revealed on Thursday in a statement that its Board of Directors greenlighted a resolution for a stock split of common shares to be conducted.
Softbank said that it wants to focus on growing its investor base by "encouraging new investors, including the young generation, to select the Company's shares as their first investment and hold it for the medium and long term." "Furthermore, the Company would like investors to increase their understanding of its business by using services associated with the Company," it was detailed in the statement. For the aforementioned reasons, SoftBank decided to make the move, which would reduce the amount of investment per share, while also creating a shareholder benefits program.
The record date of the stock split will be September 30, 2024, the business specified, adding that its Series 1 Bond-Type Class Shares won't be subject to the share split.
