U.S. President Donald Trump waves during a visit to Foxconn with Foxconn Chairman Terry Gou (R) and Chairman and CEO of Softbank Masayoshi Son (C) in Mount Pleasant, Wisconsin, U.S., June 28, 2018. REUTERS/Kevin Lamarque
June 29, 2018
MT. PLEASANT, Wis. – U.S. President Donald Trump said on Thursday SoftBank Group Corp <9984.T> Chief Executive Masayoshi Son is increasing his investment in the United States to $72 billion, significantly more than the $50 billion he had previously pledged.
“His $50 billion turned out to be $72 billion so far, he’s not finished yet,” Trump said, without providing details.
Trump’s comments came at a groundbreaking ceremony in Wisconsin for a manufacturing facility for Foxconn <2317.TW>, the world’s largest electronics contract manufacturer, attended by Son and Foxconn Chairman Terry Gou.
Son made remarks at the event but did not reference the $72 billion figure.
SoftBank was not immediately available to comment.
Foxconn is formally known as Hon Hai Precision Industry Co Ltd <2317.TW>.
(Reporting by Jeff Mason; Writing by Sam Nussey; Editing by Stephen Coates)
