Sam Nussey

TOKYO (Reuters] – SoftBank Group Corp lowered its borrowing from Mizuho Financial Group Inc to 8.5% for the year ended March, which was $63.8 billion. A filing revealed.

Borrowing by the Japanese tech conglomerate from JPMorgan Chase & Co (NYSE:) fell 23% to 637 billion yen and from Goldman Sachs Group Inc (NYSE 🙂 declined 39% to $364 billion yen.

After SoftBank announced a record investment loss at their Vision Fund unit, due to weak tech stock valuations, the disclosure was made ahead of this group’s annual meeting on June 24.

Masayoshi son, founder and CEO, was paid a stable 100 million yen per year. He has promised to play defense by reducing investment speed and conserving cash.

Yoshimitsu GOTO, chief financial officer, had his basic compensation reduced by 39%, to 293,000,000 yen.

Interview with Reuters: Masahiro, Mizuho’s chief executive, stated that SoftBank’s finances are “not worrying at all”.

($1 = 127.2100 yen)