Softbank (OTC: SFTBY), the Japanese technology company, plans to sell $41 billion in assets in an effort to buy back shares and silence critics of the company. The plan, the largest in the company's history, includes $18 billion set aside to repurchase shares. That's in addition to the $4.8 billion in buybacks it announced earlier this month. The asset sales will come over the course of the year, with proceeds also going to pay down debt. IMAGE SOURCE: GETTY IMAGES. The announcement sent shares of Softbank surging more than 17% but isn't enough to recoup the losses the stock has seen since the start of 2020. Shares are down nearly 30% so far this year. The Japanese technology company has faced pressure from investors including Elliott Management, which built a $2.5 billion stake in Softbank and has raised concerns about the company's recent tech investments. "This will allow us to strengthen our balance sheet while significantly reducing debt," Chief Executive Masayoshi Son said in a statement. "This program will be the largest share buyback and will result in the largest increase in cash balance in the history of SBG, reflecting the firm and unwavering confidence we have in our business." It's not clear which assets Softbank plans to sell off during the next four quarters. Reuters speculated it could include its stake in Sprint (NYSE: S), T-Mobile (NASDAQ: TMUS), and potentially Alibaba (NYSE: BABA). The moves aren't expected to curtail Son's quest to find the technology leaders of tomorrow. He recently warned there may be more bad investments to come as he continues that mission. 10 stocks we like better than SprintWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Sprint wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of March 18, 2020 Donna Fuscaldo has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alibaba Group Holding Ltd. The Motley Fool recommends T-Mobile US. The Motley Fool has a disclosure policy.Source