The Japanese technology conglomerate’s borrowings from JPMorgan Chase & Co fell 23% to 637 billion yen and those from Goldman Sachs Group Inc fell 39% to 364 billion yen.
The disclosure ahead of the group’s annual general meeting on June 24 comes after SoftBank reported a record investment loss in its Vision Fund unit due to weak valuations of technology stocks.
Founder and CEO Masayoshi Son, whose annual compensation has remained stable at 100 million yen, has pledged to “play defense” by reducing the pace of investment and preserving cash.
CFO Yoshimitsu Goto’s pay, including base pay, fell 39% to 293 million yen.
Mizuho chief executive Masahiro Kihara said the bank was “not worried at all” about SoftBank’s finances in an interview with Reuters last month.
($1 = 127.2100 yen)