Newsmax
Trump: SoftBank of Japan to Invest $50B in US, Create 50,000 Jobs
Tuesday, December 6, 2016 02:41 PM
By: Todd Beamon
President-elect Donald Trump said Tuesday that the big Japanese telecommunications company SoftBank Corp. will invest $50 billion in the United States, creating 50,000 jobs.
"This is Masa of SoftBank from Japan — and he's agreed to invest $50 billion in the United States and 50,000 jobs," Trump said, standing next to SoftBank CEO Masayoshi Son at Trump Tower in New York. "He's one of the great men of industry, so I just want to thank you very much."
Trump also announced the deal on Twitter:
Masa (SoftBank) of Japan has agreed to invest $50 billion in the U.S. toward businesses and 50,000 new jobs....
— Donald J. Trump (@realDonaldTrump) December 6, 2016
Masa said he would never do this had we (Trump) not won the election!
— Donald J. Trump (@realDonaldTrump) December 6, 2016
Son told reporters that SoftBank would invest in new companies and start-ups.
"I just came to celebrate his presidential job," Son said, "because he will do a lot of deregulation.
"I said, 'This is great.'
"We will invest $50 billion and create 50,000 jobs," he said.
Founded in 1981, SoftBank is Japan's No. 3 cellular telephone and company — and billionaire Son, 59, holds investments in several American corporations, including Sprint Corp.
He purchased his Sprint stake in 2013, Bloomberg News reports.
Bloomberg reported earlier Tuesday that Son was meeting with Trump in New York.
The billionaire is seeking to create a $100 billion investment fund and is looking to invest some of the dollars in the U.S., according to the report.
In 2014, the Obama administration rejected an attempt by Son to merge Sprint and T-Mobile US Inc., the nation's No. 3 and No. 4 wireless companies.
Trump's announcement came after saying earlier Tuesday that he was canceling the "ridiculous" order for a new Air Force One — charging that "costs are out of control, more than $4 billion."
The federal government's contract for the 747 jet was to be about $3 billion.
Last Thursday, Trump and Carrier officials said last week that they were keeping the company's air-conditioning manufacturing plant — and its 1,100 jobs — in Indianapolis.
Carrier said in February that it was moving the plant to Mexico, displacing 1,400 workers.
The company's parent, United Technologies Inc., said that it would invest $16 million to upgrade the plant.
On Friday, the president-elect slammed Rexnord Corp. for its plan to move its plant, also in Indianapolis, to Mexico.
Rexnord, based in Milwaukee, makes industrial and aerospace products.
http://www.newsmax.com/Politics/Trump-SoftBank-Japan/2016/12/06/id/762502/
