SoftBank turns to foreign banks as borrowing soars

REUTERS/Yuriko Nakao

SoftBank Group Corp’s bank borrowing climbed by 42% in the year to March-end with the increase shouldered by foreign lenders, company filings showed on Thursday.

Borrowing from the conglomerate’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.

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