SoftBank acquisition of ABB robot unit blocked by China regulator that opposed Meta’s Manus deal: FT
The deal is part of founder Masayoshi Son’s ambition to play a larger role in the AI build-out
Published Thu, Nov 5, 2026 · 03:07 PM
[HONG KONG] China has blocked SoftBank Group’s US$5.4 billion deal to acquire ABB’s robots unit, the Financial Times reported, citing unidentified people.
The deal – widely expected to bolster SoftBank’s revenue and profit while it awaits a boost from OpenAI’s public debut – was opposed by China’s powerful state planner, the National Development and Reform Commission (NDRC), according to the newspaper.
The Japanese backer of the ChatGPT creator was recently informed of the decision and is now trying to determine whether it can seek approval again, it said.
SoftBank’s shares were down more than 7 per cent in Tokyo on Thursday (Nov 5). A company spokesperson declined to comment.
Founder Masayoshi Son has listed the deal as a key part of his ambition to play a larger role in the artificial intelligence build-out.
The Tokyo-based investment firm was looking to take over a business from Swiss-Swedish conglomerate ABB with more than 7,000 employees, which supplies robotic arms and industrial machinery to manufacturers like BMW and has a large presence in China.
Credit and equity investors worried about SoftBank’s near-US$65 billion investment in OpenAI and commitments to data centre projects worth hundreds of billions of dollars looked to ABB’s expected contribution to SoftBank’s bottom line for assurance that the company was not overextending itself.
Concerns about Son’s exposure to hundreds of unlisted and unprofitable startups have grown since OpenAI head Sam Altman said the company would not go public in 2026. SoftBank held a 13 per cent stake in OpenAI as of October.
“ABB Robotics lacks the cutting-edge innovation found across SoftBank’s physical AI startup portfolio, but its domain expertise and manufacturing know-how had been expected to transform robotic concepts into actual businesses,” said Bloomberg Intelligence analyst Kirk Boodry.
In April, the NDRC blocked Meta Platforms’ US$2 billion acquisition of agentic AI startup Manus, issuing a one-line notice saying it had decided to prohibit foreign investment in the startup in accordance with laws and regulations.
SoftBank’s acquisition was similarly subjected to a foreign investment security review by the regulator, the FT said.
China, now aggressively expanding its humanoid robot and other physical AI applications, had been concerned about robotics data being transferred overseas and used to train competing AI models, according to the FT report.
Japan is home to many of the world’s biggest industrial robot makers including Fanuc, Yaskawa Electric and Kawasaki Heavy Industries. Most have partnered with Nvidia to explore ways to use AI inside factories, hospitals and logistics networks and stay ahead of rising competition from China. BLOOMBERG
