TOKYO — Japan's SoftBank Group is expected to report a modest first-quarter (Q1) profit on Wednesday but investors are set to hone in on whether the tech investment giant will either announce a major share buyback or flag its willingness to embark on one.
The results come amid much market turmoil, particularly for large-cap Japanese stocks and major tech companies of which SoftBank is both hurt by a massive unwinding of yen carry trades and US recession fears. Its shares slumped almost 20 percent on Monday but regained nearly half those losses as of Tuesday afternoon.
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