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<p>SoftBank Group Corp&#8217;s bank borrowing climbed by 42% in the year to March-end with the increase shouldered by foreign lenders, company filings showed on Thursday.</p></article>

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<p>SoftBank Group Corp&#8217;s bank borrowing climbed by 42% in the year to March-end with the increase shouldered by foreign lenders, company filings showed on Thursday.</p>
<p>Borrowing from the conglomerate&#8217;s principal lenders rose to 4.98 trillion yen ($46 billion) in the last business year, with main bank Mizuho Financial Group Inc the only Japanese lender remaining in the top three backers.</p>
<p>Goldman Sachs Group Inc and JPMorgan Chase &amp; Co are among SoftBank&#8217;s biggest lenders, the filings showed, with the borrowing coming as the Japanese conglomerate builds its technology investing operations globally.</p>
<p>SoftBank has experienced rapidly changing fortunes over the last year, with its stock price and portfolio valuations plummeting in the early days of the COVID-19 pandemic, forcing the group into asset sales.</p>
<p>Chief Executive Masayoshi Son pledged to use cash reserves as a defence but with earnings rebounding and a recently completed share buyback driving stock-price recovery, the firm has expanded backing for its second Vision Fund to $30 billion.</p>
<p><strong>Reuters</strong></p>
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Goldman Sachs Group Inc and JPMorgan Chase & Co are among SoftBank's biggest lenders.

SoftBank turns to foreign banks as borrowing soars

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SoftBank turns to foreign banks as borrowing soars

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