Softbank Plans To Separate Its Domestic And Overseas Businesses

(RTTNews) - SoftBank Group Corp. (SFTBF.PK) plans to separate its domestic and global businesses.

The overseas division of the company would include stakes in Sprint Corp (S) and Alibaba Group Holding Ltd (BABA), while the domestic unit would include its holdings in Yahoo Japan corp.

Under the reorganization, SoftBank President Nikesh Arora will head the overseas operations and Ken Miyauchi, who now heads SoftBank's Japanese mobile operations, will lead the domestic business.

Billionaire Masayoshi Son remains group chairman and chief executive officer.

The transfer of assets is due to complete by December 31, 2016.