SoftBank resumes buybacks with modest $380 million in September

SoftBank Group Corp. resumed buying back shares in September, shelling out ¥40.1 billion ($380 million) after suspending in August a multi-billion-dollar program that’s proven instrumental in buoying the stock.

Masayoshi Son’s conglomerate bought back 6.17 million shares last month, it said in a filing Wednesday, part of a now half-completed 2.5 trillion yen buyback program. The firm halted that in early August, about a month before announcing a deal to sell UK chip designer Arm Ltd. to Nvidia Corp. for $40 billion.

The Japanese company resumed buying on Sept. 15, the day after unveiling that mega-deal, then bought on every single business day till the final five days of the September quarter, when it’s prohibited from doing so.