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☆ SoftBank will reportedly invest nearly $1 billion in AI push, tapping Nvidia's chips
▼ + stars: | 2024-04-23 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Signage at a SoftBank Corp. store in the Ginza district of Tokyo, Japan, on Wednesday, Nov. 1, 2023. Japanese tech conglomerate SoftBank is looking to develop a "world-class" Japanese-language-specific generative artificial intelligence model, and plans to invest $960 million in the next two years to bolster its computing facilities, according to a Nikkei report. Training of large language models (LLM), such as OpenAI's Chat GPT, requires advanced graphics processing units, which SoftBank plans to purchase from U.S. chip giant Nvidia , the Nikkei reported Monday, citing anonymous sources. The investment of 150 billion yen ($960 million) will be spent in 2024 and 2025 and adds to 20 billion yen that SoftBank spent on computing infrastructure last year, the report said. According to another report from Nikkei Asia, Japan lacks private companies with the high-performance supercomputers that are needed to build LLM, despite increased interest in the tech.

Persons: SoftBank Organizations: SoftBank Corp, Nikkei, Nvidia Locations: Ginza, Tokyo, Japan, U.S, Nikkei Asia

The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. The company currently connects more than 17 million vehicles and Napier said Cubic can update the car from the assembly all the way through its lifetime. "We can update the car in the production line, we can update the car on the ship, we can update the car when it arrives anywhere," Napier said. Cubic will become a consolidated subsidiary of SoftBank Corp, and the deal is set to close in the first half of 2024. Jefferies served as lead financial adviser to Cubic on the deal, while PJT Partners acted as lead financial adviser to SoftBank.

Persons: Issei Kato, Junichi Miyakawa, Barry Napier, SoftBank, Napier, Jefferies, Nick Carey, Nick Zieminski Organizations: SoftBank, REUTERS, SoftBank Corp, Cubic Telecom, Japan, Volkswagen, Qualcomm, Consulting, McKinsey, Co, Reuters, Napier, SoftBank Group, Vision Fund, PJT, Thomson Locations: Tokyo, Japan, TOKYO, Dublin, Irish

☆ Rakuten's mobile misadventure: from ambitious plan to millstone
▼ + stars: | 2023-11-29 | by ( Anton Bridge | ) www.reuters.com time to read: +5 min

By any measure, cash-bleeding Rakuten Mobile is deeply troubled. Rakuten is set for another tough year in 2024 with investors keen to see if it can achieve its goal of having the mobile unit break even. Those steps have raised some 800 billion yen ($5.4 billion). Then in October, SoftBank Corp (9434.T), Japan's No.3 mobile network provider, began offering a generous reward campaign for most mobile users using SoftBank Group's (9984.T) PayPay online payment system. Without profits, the mobile unit is not likely to entice would-be suitors and competition laws would probably prevent the likes of SoftBank and Docomo from bidding.

Persons: Japan's Rakuten, Hiroshi, Mickey, Rakuten, Mitsunobu Tsuruo, Rakuten's, NTT Docomo, Mikitani, Amir Anvarzadeh, Anton Bridge, David Dolan, Edwina Gibbs Organizations: Citi, Amazon Japan, Rakuten Securities, Rakuten Bank, SBI Securities, GUNNING, Rakuten Mobile, Reuters, NTT, SoftBank Corp, Asymmetric Advisors, Thomson Locations: TOKYO, ARPU

☆ SoftBank Corp raises $800 mln through Japan's first listing of bond-type shares
▼ + stars: | 2023-11-02 | by ( Anton Bridge | ) www.reuters.com time to read: +2 min

TOKYO, Nov 2 (Reuters) - Japan's SoftBank Corp's (9434.T) bond-type shares were listed on the Tokyo Stock Exchange on Thursday in the first such listing in Japan, raising a total of 120 billion yen ($799 million) on strong retail and institutional investor demand. As of 0359 GMT, the shares were trading at 4,035 yen, above the offering price of 4,000 yen. The offering was primarily aimed at retail investors and demand appears to have been strong among both retail and institutional investors. While SoftBank did not disclose total demand, when asked about retail interest, Miyakawa said he was grateful for the level of demand. As the shares are publicly listed, they can be purchased through the tax-efficient Nippon Individual Savings Account (NISA), unlike corporate bonds.

Persons: Corp's, Junichi Miyakawa, SoftBank, Miyakawa, Anton Bridge, Francis Tang, Jacqueline Wong Organizations: Tokyo Stock Exchange, Savings, Thomson Locations: TOKYO, Japan

TOKYO, Oct 25 (Reuters) - Kokusai Electric (6525.T) shares jumped 29% in their Tokyo market debut on Wednesday after private equity firm KKR sold shares in the chip equipment maker for $724 million in Japan's largest initial public offering (IPO) in five years. The stock opened at 2,116 yen and climbed to a high of 2,371 yen, valuing the company at 546.3 billion yen ($3.65 billion), as investors grabbed shares following the rare IPO of a key chip tool manufacturer. "The market for chip related stocks outside of AI is weak so some were wondering what would happen," said Tomoichiro Kubota, analyst at Matsui Securities. KKR agreed to buy Hitachi's (6501.T) electronic equipment unit in 2017 in a deal valuing the business at 257 billion yen ($1.72 billion) as the conglomerate streamlined operations. The private equity group then spun off Kokusai, which manufactures machines for depositing thin films on silicon wafers, the following year.

Persons: telco, Tomoichiro Kubota, Kazuyoshi Saito, Warren Buffett, Sam Nussey, Miho Uranaka, Mayu, Makiko Yamazaki, Chang, Ran Kim, Sonali Paul Organizations: KKR, telco SoftBank Corp, Matsui Securities, Reuters, Iwai Cosmo Securities, Materials, Equity, Thomson Locations: TOKYO, Tokyo, China, Japan

☆ SoftBank Corp to raise $800 mln from bond-type shares in Japan first
▼ + stars: | 2023-09-25 | by ( Anton Bridge | ) www.reuters.com time to read: +3 min

The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. SoftBank Corp, the Japanese telecommunications arm of tech investment giant SoftBank Group (9984.T), first proposed the issuance in May, but board approval only came on Monday. The shares will be listed on the Tokyo Stock Exchange on Nov. 1, with pricing expected between Oct. 13 and 17. Although classed as equity in accounting terms, the shares offer a set dividend and can be redeemed by SoftBank after a period of five years. As the shares will be publicly listed, they can be purchased through the tax-efficient Nippon Individual Savings Account (NISA), unlike corporate bonds.

Persons: Issei Kato, SoftBank, Urvi, Anton Bridge, Mariko Katsumura, Kim Coghill, Mark Potter Organizations: SoftBank, REUTERS, SoftBank Corp, Tokyo Stock Exchange, Bankers, Savings, Thomson Locations: Tokyo, Japan, Japan's, Bengaluru, Anton

☆ SoftBank Corp to raise $800 mln via bond-type class shares - filing
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +1 min

The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo Acquire Licensing RightsSept 25 (Reuters) - SoftBank Corp (9434.T) plans to raise 120 billion yen ($808.79 million) via Japan's first public offering of bond-type class shares, it said in a regulatory filing on Monday. The Japanese telecommunications arm of tech investment giant SoftBank Group (9984.T) first announced the issuance in May, saying the shares would be listed before the close of the 2023 financial year, which ends on March 31, 2024. The shares will not have voting rights nor can they be converted into common shares, so the issuance would not affect current shareholders, SoftBank said in a statement in May. The proceeds will be used for growth investments in telecommunications, IT technologies and "next-generation social infrastructure", it said.

Persons: Issei Kato, SoftBank, Urvi, Anton Bridge, Mariko Katsumura, Rashmi Aich, Muralikumar Anantharaman, Kim Coghill Organizations: SoftBank, REUTERS, SoftBank Corp, Thomson Locations: Tokyo, Japan, Bengaluru, Anton

☆ SoftBank Corp to raise over $800 mln via bond-type class shares - Bloomberg News
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +1 min

The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo Acquire Licensing RightsSept 25 (Reuters) - SoftBank Corp (9434.T) will likely decide as early as Monday to raise up to 120 billion yen ($808.79 million) via Japan's first public offering of bond-type class shares, Bloomberg News reported, citing people familiar with the matter. The Japanese telecommunications arm of tech investment giant SoftBank Group (9984.T) first announced the issuance in May, saying the shares would be listed before the close of the 2023 financial year, which ends March 31, 2024. The shares will not have voting rights nor can they be converted into common shares, so the issuance would not affect current shareholders, SoftBank said in a statement in May. The proceeds will be used for growth investments in telecommunications, IT technologies and "next-generation social infrastructure", it said.

Persons: Issei Kato, SoftBank, Urvi, Rashmi Aich Organizations: SoftBank, REUTERS, SoftBank Corp, Bloomberg News, Thomson Locations: Tokyo, Japan, Bengaluru, Anton

☆ SoftBank's Arm aims for over $52 bln valuation in biggest US IPO of the year
▼ + stars: | 2023-09-05 | by ( Manya Saini | Thomson Reuters | Manya Saini Reports On Prominent Publicly Listed U.S. Financial Firms Including Wall Street S Biggest Banks | ) www.reuters.com time to read: +5 min

The valuation that Arm is chasing now represents a climb-down from the $64 billion valuation at which SoftBank last month acquired the 25% stake it did not already own in the company from its $100 billion Vision Fund. Jamie Mills O’Brien, portfolio manager at British fund manager Abrdn, said he found SoftBank's valuation ask in the IPO "more palatable than initially discussed." REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsReuters first reported on SoftBank's proposed price range for the IPO on Saturday. If the underwriters exercise their right to buy shares in Arm in full as part of 'greenshoe option', it would take the IPO amount to be raised to $5.2 billion. Arm expects to trade on the Nasdaq Global Select Market under the symbol "ARM".

Persons: Group's, SoftBank, Jamie Mills O’Brien, Abrdn, Kim Kyung, Sara Russo, Bernstein, Goldman Sachs, JPMorgan Chase, Manya Saini, Pablo Mayo, Arun Koyyur, Nick Zieminski Organizations: Vision, Nvidia Corp, Apple, Nvidia, Devices, Intel, Samsung Electronics, REUTERS, Rights Reuters, Acorn Computers, Apple Computer, VLSI Technology, London Stock Exchange, Nasdaq, SoftBank, Barclays, JPMorgan, Mizuho Financial Group, underwriters, Pablo Mayo Cerqueiro, Thomson Locations: United Kingdom, China, United States, New York, Tokyo, Japan, Bengaluru, London

☆ Japan says may take China to WTO over Fukushima-driven seafood import ban
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Japanese Foreign Minister Yoshimasa Hayashi told reporters that Japan would take "necessary action (on China's aquatic product ban) under various routes including the WTO framework". Filing a WTO complaint might become an option if protesting to China through diplomatic routes is ineffective, Economic Security Minister Sanae Takaichi said separately. Japan's National Police Agency has received 225 reports of harassment calls to date, Jiji News reported, and the government said it was seeking help from telecommunications companies to block the calls. NTT and other phone companies including KDDI (9433.T) and SoftBank Corp (9434.T) are discussing measures following the government's request. "It is extremely regrettable and concerning about the large number of harassment calls that have likely come from China," Trade Minister Yasutoshi Nishimura said during a news conference.

Persons: Tom Bateman, Yoshimasa Hayashi, Sanae Takaichi, Yasutoshi Nishimura, Nishimura, Kantaro Komiya, Mariko Katsumura, Sakura Murakami, Chang, Ran Kim, Simon Cameron, Moore, Jacqueline Wong Organizations: REUTERS, Rights, World Trade Organization, Economic, Japan's National Police Agency, Jiji News, NTT Communications, Nippon Telegraph, Telephone, NTT, SoftBank Corp, Thomson Locations: Fukushima, Fukushima Prefecture, Japan, China, WTO

☆ Japan's SoftBank Corp posts 2.1% increase in Q1 profit
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: 1 min

The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File PhotoTOKYO, Aug 4 (Reuters) - Japan's SoftBank Corp (9434.T), the domestic telecoms arm of SoftBank Group (9984.T), posted a 2.1% increase in first quarter operating profit on Friday. Operating profit was 246.3 billion yen ($1.73 billion) in the April to June period, marginally higher than the 241.2 billion yen in the same period a year earlier. SoftBank maintained its annual profit forecast of 780 billion yen in the year through March 2024, compared to an 838.8 billion yen average estimate from 18 analysts surveyed by Refinitiv. ($1 = 142.3900 yen)Reporting by Anton Bridge Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Issei Kato, SoftBank, Anton, Shri Navaratnam Organizations: SoftBank, REUTERS, SoftBank Corp, Refinitiv, Thomson Locations: Tokyo, Japan

☆ Typhoon Khanun kills one man, knocks out power to one-third of Japan's Okinawa homes
▼ + stars: | 2023-08-02 | by ( Kantaro Komiya | Thomson Reuters | Kantaro Writes About Everything Japan'S Economic Indicators To North Korea'S Missiles To Global Regulation On Ai Companies. His Previous Stories Have Been Published In The Associated Press | ) www.reuters.com time to read: +3 min

TOKYO, Aug 2 (Reuters) - High winds hit power lines in Japan's popular tourist destination Okinawa, knocking out electricity to more than 200,000 households on Wednesday morning, as powerful and slow-moving typhoon Khanun neared the country's southwestern islands. A man was crushed under a collapsed garage and went into cardiac arrest, according to the Fire and Disaster Management Agency. A man was crushed under a collapsed garage and went into cardiac arrest, according to the Fire and Disaster Management Agency. Local utility Okinawa Electric Power (9511.T) said 212,530 households, or 34% of all houses covered, were experiencing power outages as of 10:55 a.m. Japan time (0155 GMT), according to its website. Kyushu Electric Power (9508.T) said power supply was down for 10,030 houses in Amami islands in Kagoshima prefecture, north of Okinawa.

Persons: Co's, Khanun, Kantaro Komiya, Sonali Paul Organizations: Disaster Management Agency, Japan Meteorological Agency, Local, Okinawa Electric, Kyushu Electric Power, Mobile, SoftBank Corp, Kadena Air Base, Thomson Locations: TOKYO, Okinawa, Japan's, Tokyo, Japan, Amami, Kagoshima prefecture, Naha, Okinawa's, U.S, East China, Zhejiang, Taiwan, Kyushu, China, Philippines

TOKYO, July 19 (Reuters) - Japan needs to rapidly expand computing power as it vies to become a global leader in artificial intelligence, said Hideki Murai, a special AI adviser to Prime Minister Fumio Kishida. "The government's key priority is computing power. We feel a real sense of crisis about that," Murai, a ruling Liberal Democratic Party lawmaker who heads the government's AI strategy team, told Reuters in an interview on Tuesday. Japan, the world's third-largest economy, has been slow to invest in the field, and lags the United States in AI computer infrastructure. Some 3,000 companies in Japan have access to a supercomputer at the government's National Institute of Advanced Industrial Science and Technology (AIST) offering 0.8 exaflops of computing power.

Persons: Hideki Murai, Fumio Kishida, OpenAI, Murai, Shohei Ohtani, Tim Kelly, Sam Nussey, Miho Uranaka, Sam Holmes Organizations: Liberal Democratic, Reuters, government's National Institute of Advanced Industrial Science, Technology, Microsoft, Japan's Ministry of Economy Trade, Industry, SoftBank Corp, AIs, Japan, Major League, European Union, Thomson Locations: TOKYO, Japan, United States, AIST, European

The timing of the listing was still unclear as money-losing PayPay needs to first demonstrate a clear path to profitability, the source said. SoftBank has previously set a PayPay listing as a goal, with one executive saying in November it was worth just under 1 trillion yen ($7.17 billion). Representatives for PayPay and SoftBank Group's (9984.T) domestic telecoms business, SoftBank Corp (9434.T), said they would not comment on speculation. PayPay is owned by SoftBank Corp, its internet business, Z Holdings (4689.T), and the group's second Vision Fund. PayPay booked a loss before interest, taxes, depreciation and amortisation of 11.9 billion yen in the year ended March, compared to a loss of 43.2 billion yen a year earlier.

Persons: SoftBank, SoftBank Group's, Kirk Boodry, Son, PayPay, Sam Nussey, Miho Uranaka, Scott Murdoch, David Dolan, Muralikumar Organizations: Companies, Z Holdings, PayPay, SoftBank Corp, Vision Fund, SoftBank, Syla Technologies, Rakuten Bank, SBI Sumishin, Bank, Astris Advisory, Mobile Marketing, Cambridge, Thomson Locations: . New York, Tokyo, New York, U.S, Astris Advisory Japan, Japan, England

Alibaba, one of the most valuable assets in SoftBank's portfolio, tumbled as much as 5.2% in Hong Kong and closed down about 2%. On Wednesday, the FT said forward sales based on filings at the U.S. Securities and Exchange Commission showed SoftBank's Alibaba stake would eventually fall to 3.8% from almost 15%. The Japanese group, led by billionaire founder Masayoshi Son, has sold about $7.2 billion worth of Alibaba shares this year through prepaid forward contracts, the newspaper said. "It is well within the realms of expectations that the proportion of Chinese shares among its total investment will shrink further." In New York, Alibaba's shares were up 3% as analysts noted that the stake sale was more due to SoftBank's circumstances.

☆ SoftBank to sell nearly all its stake in Alibaba - FT
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: 1 min

[1/2] SoftBank Corp's logo is pictured at a news conference in Tokyo, Japan, February 4, 2021. REUTERS/Kim Kyung-HoonApril 12 (Reuters) - SoftBank has moved to sell almost all of its remaining shares in Alibaba Group Holding Ltd (9988.HK), the Financial Times reported on Wednesday citing regulatory filings it had analyzed. Reporting by Yuvraj Malik in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Shares of Japan's Nintendo, SoftBank and Sharp tumble after earnings
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +2 min

Shares of Nintendo dropped 6% after the maker of the Switch video game console reported lower sales and profit and cut its full-year outlook. Nintendo shares were on track for their biggest one-day loss since November. SoftBank shares fell 6.2% after it reported a quarterly loss, hit by its massive Vision Fund investment unit, which fell into the red for the fourth straight quarter. Nintendo is struggling with softer sales for the ageing Switch, while SoftBank has seen valuations weaken for its sprawling tech portfolio. "The Nintendo Switch is now a six-year-old console and demand is now exhausted," analyst Mark Chadwick said on Smartkarma.

☆ Inside SoftBank Vision Fund's awful, terrible, really bad year. How the venture fund tumbled, according to former employees, investors and rival VCs.
▼ + stars: | 2022-12-08 | by ( Hasan Chowdhury | Ben Bergman | Samantha Stokes | ) www.businessinsider.com time to read: +12 min

SoftBank's Vision Fund just experienced one of its most dismal years in its history. SoftBank's Vision Fund was once a power broker, having raised a jaw-dropping $100 billion in 2017, followed by plans to raise $108 billion for Vision Fund 2 in 2019 — two of the largest venture-investing vehicles ever established. But insiders are now questioning if it will ever regain influence, according to 11 ex-Vision Fund investors, former employees, VCs, and industry analysts who weighed in on the future of the Vision Fund. One ex-Vision Fund investor described Son, now taking the reins of Vision Fund 2, as someone who is "not a manager." Given its investing performance so far, the obvious question is what happens once Vision Fund 2 has reached full investment.

☆ Inflation is getting less hot - and the best-case scenario for stocks just played out.
▼ + stars: | 2022-11-11 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

The stock market just had its best day of the year. We can chalk that up to the Thursday morning inflation data that showed prices cooled faster than expected in October. Specialist trader Chris Malloy (C) gives a price to traders on the floor of the New York Stock Exchange, October 18, 2013. As far as a single day is concerned, yesterday looked like a perfect storm for the stock market. Does the latest inflation report change your outlook on the economy or predictions for what the Fed will do next?

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