Japan's Softbank plans $8.8 bln in capex this fiscal year

TOKYO Wed Oct 31, 2012 2:47am EDT

TOKYO Oct 31 (Reuters) - Japan's Softbank said on Wednesday it plans 700 billion yen ($8.8 billion) if capital expenditure in the year to next March 31.

Softbank, which announced this month it would buy a 70 percent stake in Sprint Nextel Corp, the third-largest U.S. carrier, said it plans capex of 550 billion yen ($6.9 billion) in following year to March 2014.