> He's taking advantage of the weak GBP thanks to the whole Brexit fiasco. More likely: SoftBank Group is taking advantage of its ability to issue debt at hist

> He's taking advantage of the weak GBP thanks to the whole Brexit fiasco. More likely: SoftBank Group is taking advantage of its ability to issue debt at historically low interest rates, thanks to the monetary policy of the Bank of Japan. SoftBank's net-debt-to-equity ratio has risen from 0.6 to 3.5 from FY2011 to 2015: http://www.softbank.jp/en/corp/irinfo/financials/results/highlights/ http://www.softbank.jp/en/corp/irinfo/financials/results/hig.... That being said, SoftBank purchased ARM using GBP (I assume), so they would need a way to convert their cheaply acquired JPY to GBP. I wonder if they are able to purchase foreign companies for JPY at, say, a 10% markup. The sellers would be able to sell this JPY on the market as soon as they receive it, and SoftCorp would be left with a brand new company in its portfolio and some JPY liabilities (they are issuing unsecured, subordinated (5-year?) JPY bonds at 2.5% p.a.: http://www.softbank.jp/en/corp/irinfo/stock/bond/ http://www.softbank.jp/en/corp/irinfo/stock/bond/).