SoftBank Hits 20-Year High With $68 Billion Climb Out of Nadir

SoftBank Group Corp. shares touched their highest level in two decades as a series of buybacks helped the stock recoup losses suffered during the coronavirus market rout.

The stock rose 4.6% to 6,190 yen ($58) on Tuesday, the highest since March 2000. That’s more than double the level in mid-March, which marked the virus-impacted low point for the company, whose market value has since surged by roughly $68 billion. The benchmark Topix index was little changed on the day.

SoftBank’s recovery is something of a vindication for founder Masayoshi Son, who unveiled plans to sell 4.5 trillion yen of ...