SoftBank's Arora to buy 60 billion yen(US $483 million) worth of shares .

SoftBank Group's second-in-command said Wednesday he will spend roughly 60 billion yen ($478 million) out of pocket to buy his own company's stock.
The purchase by President Nikesh Arora translates to roughly 0.7% of SoftBank shares in circulation based on the current stock price. CEO Masayoshi Son lured Arora from Google last year and made him president this June. The large stock purchase signals Arora's intent to run the Japanese Internet and telecommunications company for the long term.

This former Google executive is the heir apparent to SoftBank chairman and CEO Masayoshi Son. He was recently elevated to a new role of COO and president of SoftBank strengthening his position as the de facto number two in the Japanese firm behind founder and CEO, Son.

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