February 7, 2018 / 6:31 AM / 9 months ago

SoftBank says preparations underway to list Japan telecoms unit

FILE PHOTO: The logo of SoftBank Group Corp is seen at the company's headquarters in Tokyo, June 30, 2016. REUTERS/Toru Hanai/File Photo

TOKYO (Reuters) - SoftBank Group Corp said on Wednesday it had started preparations to list shares of its core Japanese telecoms unit, SoftBank Corp, as the parent company speeds up global investments under its Vision Fund.

SoftBank Corp would remain a consolidated unit even after listing, SoftBank Group said in a statement.

SoftBank has long relied on its domestic telecoms business, which makes up a third of overall sales but two-thirds of profit, as a stable source of cash that can be diverted to its growing number of investments around the world.

Reporting by Sam NusseyEditing by Christopher Cushing

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