The likelihood of the approximately $5.4 billion transaction being blocked has increased after China's National Development and Reform Commission reportedly indicated that it would not approve SoftBank Group's planned acquisition of ABB's robotics business.
SoftBank Group announced in October 2025 that it had agreed to acquire ABB's robotics business. The total transaction value is approximately $5.4 billion (approximately ¥850 billion), but after clearing China's competition law review, the deal became subject to a national security review of foreign investment.
According to people familiar with the matter, China's National Development and Reform Commission raised concerns about the potential overseas transfer of robot-related data and its use to train AI models, and also expanded its scrutiny to ABB's supply chain for its China operations. ABB has received government support during its many years of operating in China.
SoftBank Group shares came under pressure in the market, falling approximately 5%, while concerns about the earnings outlook for Arm Holdings and regulation surrounding the U.S. midterm elections also had an impact. It is unclear at this stage whether a final decision has been made or whether the company can reapply.
Whether the acquisition proceeds could affect SoftBank Group's robotics strategy and AI investment plans. Market attention will focus on whether the company reapplies and how the review progresses.