TOKYO (Reuters) – Japan’s Softbank said on Wednesday it plans 700 billion yen ($8.8 billion) if capital expenditure in the year to next March 31.

Softbank, which announced this month it would buy a 70 percent stake in Sprint Nextel Corp, the third-largest U.S. carrier, said it plans capex of 550 billion yen ($6.9 billion) in following year to March 2014.

(Reporting by Mari Saito; Editing by Michael Watson)