In Depth: How SoftBank Wrestled Back Control of Arm China

Masayoshi Son, billionaire head of SoftBank Group Corp., may have heaved a sigh of relief after wresting control of the Chinese venture of British semiconductor designer Arm Ltd. back from its wily CEO.

Securing Arm Technology (China) Co. Ltd. means the Japanese conglomerate will be able to move ahead with launching a U.S. IPO for Arm Ltd., a potential bright spot in what has otherwise been a streak of bad luck for a company which has been buffeted by Beijing’s crackdown on tech.