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SoftBank appears to have boosted U.S. investment by $22 bil.: Trump

  • June 29, 2018
  • , Kyodo News , 10:18 a.m.
  • English Press

President Donald Trump said Thursday that SoftBank Group Corp. appears to have increased its planned investment in the United States by $22 billion to $72 billion.


Trump, without providing details about the figures, made the remark during the groundbreaking for a $10 billion flat-panel display plant of Hon Hai Precision Industry Co. of Taiwan, also known by its trade name Foxconn, in Wisconsin.


“His $50 billion turned out to $72 billion so far — he’s not finished yet,” Trump said as he thanked SoftBank Chief Executive Officer Masayoshi Son for his investment in the United States.


Son and Hon Hai Chairman Terry Gou were present at the event.


In December 2016, Son told Trump, then president-elect, that the Japanese telecommunication and Internet service company plans to invest $50 billion in the United States and create 50,000 new jobs over a four-year period.


Recalling his meeting with the president-elect in New York, Son, speaking at the event, said, “I said I couldn’t have decided such a thing (the $50 billion investment) before this new president, because I said, ‘Now I see the passion. I see the opportunity. I’m more energized.'”


“And now I’m very happy. We’re making great success,” Son said.


Son said he has no doubt that Hon Hai, or Foxconn, will achieve success in doing business in the United States, calling Gou “my best friend.”


Hon Hai is the parent company of Sharp Corp., which it bought in August 2016 in the first acquisition of a major Japanese electronics maker by a foreign company.

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