Japan’s Softbank plans $8.8 billion in capex this fiscal year

Japan’s Softbank said on Wednesday it plans 700 billion yen ($8.8 billion) in capital expenditure in the year to next March 31.

Softbank (Tokyo, Japan), 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.

(Reporting by Mari Saito; Editing by Michael Watson)

Japan’s Softbank said on Wednesday it plans 700 billion yen ($8.8 billion) in capital expenditure in the year to next March 31.

Softbank (Tokyo, Japan), 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.

(Reporting by Mari Saito; Editing by Michael Watson)