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☆ Arm's valuation will be the main focus for investors, analyst says
▼ + stars: | 2023-08-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailArm's valuation will be the main focus for investors, analyst saysMio Kato, founder of LightStream Research, discusses Arm's filing for a Nasdaq listing on Monday. The chip designer is owned by Japan's SoftBank.

Persons: Mio Kato, Japan's SoftBank Organizations: LightStream Research

☆ No indication that SoftBank will be an 'aggressive seller' of Arm shares, analyst says
▼ + stars: | 2023-08-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNo indication that SoftBank will be an 'aggressive seller' of Arm shares, analyst saysRolf Bulk, equity research analyst at New Street Research, discusses Arm's filing for a Nasdaq listing on Monday. The chip designer is owned by Japan's SoftBank.

Persons: Rolf Bulk, Japan's SoftBank Organizations: New, Research

☆ SoftBank's chip designer Arm reveals financials ahead of blockbuster US IPO
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: 1 min

Aug 21 (Reuters) - Arm, the British chip designer owned by Japan's SoftBank Group (9984.T), on Monday disclosed its financial details in a filing with the U.S. Securities and Exchange Commission for an initial public offering. Reporting by Manya Saini in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Manya Saini, Arun Koyyur Organizations: Japan's SoftBank, U.S . Securities, Exchange Commission, Thomson Locations: British, Bengaluru

Arm, the chip designer owned by Japan's SoftBank, filed for a Nasdaq listing on Monday, positioning itself to go public during a historically slow period for tech IPOs. Arm's 2023 revenue was slightly down from the company's 2022 sales of $2.7 billion. Arm chips are made by companies including Amazon, Alphabet, AMD, Intel, Nvidia, Qualcomm, and Samsung, according to the filing. Arm said that its technology was included in over 30 billion chips shipped in its fiscal 2023. SoftBank originally sought to sell Arm to chip giant Nvidia , but the deal faced major pushback from regulators, who raised concerns over competition and national security.

Persons: Japan's SoftBank, confidentially, SoftBank Organizations: London Stock Exchange, AMD, Intel, Nvidia, Qualcomm, Samsung Locations: U.S

☆ Indonesia's GoTo narrows losses, says on track for profitability
▼ + stars: | 2023-08-15 | by ( Stefanno Sulaiman | ) www.reuters.com time to read: +2 min

JAKARTA, Aug 15 (Reuters) - Indonesia's biggest tech firm GoTo (GOTO.JK) on Tuesday said it had slashed underlying losses in the second quarter to 1.2 trillion rupiah ($78.25 million), down from 4.3 trillion rupiah a year earlier, helped by intense cost-cutting measures. Following positive results for the first half, GoTo revised its 2023 adjusted EBITDA outlook to a loss of between 4.5 trillion rupiah and 3.8 trillion rupiah, from a previously forecast loss of between 5.3 trillion rupiah and 4.6 trillion rupiah. Net revenues for the second quarter of 2023 rose to 3.6 trillion rupiah, up 86.7% from 2022, with the company's overall gross transaction value for the period reaching 143.7 trillion rupiah, it said. The company said it had slashed losses by 48% for the first half compared to a year earlier. Shares in GoTo, shorthand for GoTo Gojek Tokopedia, closed up 6.59% to 97 rupiah per share before the earnings announcement.

Persons: GoTo, Japan's, Patrick Walujo, Walujo, Tokopedia, TikTok, GoTo Gojek Tokopedia, Stefanno Sulaiman, Fanny Potkin, Conor Humphries Organizations: Japan's SoftBank, Thomson Locations: JAKARTA

TOKYO, Aug 8 (Reuters) - Japan's SoftBank Group (9984.T) reported a surprise loss but saw its Vision Fund unit return to the black for the first time in six quarters, helped by an increased valuation for Arm, the chip designer slated for an initial public offering later this year. The Vision Fund unit booked an investment gain of about 160 billion yen ($1.1 billion) for the April-June. Without the fillip from Arm, the picture was less rosy with the company's Vision Funds reporting a combined loss of 13 billion yen. Overall, SoftBank reported a third consecutive quarterly loss, hit by declines in valuations for major investments such Alibaba Group (9988.HK), Deutsche Telekom (DTEGn.DE), and T-Mobile U.S. (TMUS.O). Its net loss came to 477.6 billion yen ($3.3 billion), smaller than its loss of 3.16 trillion yen for the same period a year earlier but a stark contrast to market expectations for a 75 billion yen net profit.

Persons: SoftBank, Anton Bridge, Sam Nussey, Miyoung Kim, Edwina Gibbs Organizations: Vision Fund, HK, Deutsche Telekom, Mobile U.S, Thomson Locations: TOKYO

REUTERS/Dado Ruvic/IllustrationBENGALURU, Aug 7 (Reuters) - Indian e-commerce startup Meesho has posted its first-ever profit and is targeting a stock market listing in the next 12-18 months, a senior company executive said in an interview. An initial public offering (IPO) is now being planned in the next 12-18 months, Bansal added. Meesho, which was founded by Indian Institute of Technology graduates Vidit Aatrey and Sanjeev Barnwal, clocked more than 1 billion orders in the last 12 months. Many Indian startups have fired thousands of employees and cut costs aggressively in recent months. Last week, Indian food delivery giant Zomato (ZOMT.NS) also posted its first-ever profit.

Persons: Dado Ruvic, Meesho, Japan's SoftBank, Dhiresh Bansal, Bansal, Vidit Aatrey, Sanjeev Barnwal, Meesho's, Munsif, Aditya Kalra Organizations: REUTERS, Amazon, Meesho, Reuters, Indian Institute of Technology, Vidit, Thomson Locations: Bengaluru

☆ SoftBank seen returning to profit as tech stocks gain
▼ + stars: | 2023-08-07 | 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 is set to post net profit of 75 billion yen ($525 million) for April-June, showed the average of four analyst estimates compiled by Refinitiv. "Public valuations in tech are trending up again and I would expect private valuations to follow suit," said Bulk. Recent activity by SoftBank includes its creation of a joint venture to build automated warehouses and investment in insurance tech company Tractable. "SoftBank mandated Arm to reinvest all of its profit to enter new markets," New Street Research's Bulk said.

Persons: Issei Kato TOKYO, Masayoshi Son, Rolf Bulk, Refinitiv, Macquarie, Paul Golding, Anton Bridge, Sam Nussey, Christopher Cushing Organizations: SoftBank, REUTERS, Vision Fund, Alibaba, HK, New, Research, Vision, Analysts, Nvidia, Thomson Locations: Tokyo, Japan

Containers are seen at the Yangshan Deep-Water Port in Shanghai, China October 19, 2020. REUTERS/Aly Song/File PhotoAug 8 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. China's July trade data top a heavy regional economic calendar on Tuesday, with current account, bank lending and household spending reports from Japan, current account data from South Korea and Australian consumer sentiment also on tap. But for the world's manufacturing and factory engine, focus is on the alarming weakness in exports. At -54.7, it is at its 'highest' level since June 30, but will soon be heading lower again if Tuesday's trade data disappoint.

Persons: Aly, Jamie McGeever, swatted, John Williams, Dow, Japan's Organizations: REUTERS, Wall, Treasury, New, Nasdaq, Equity, Nikon, Mazda, Thomson, Reuters Locations: Shanghai, China, Asia, Japan, South Korea, Beijing, U.S, Australia

☆ 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

☆ Walmart buys out $1.4 billion Tiger Global stake in India's Flipkart, Wall Street Journal reports
▼ + stars: | 2023-07-30 | by ( ) www.reuters.com time to read: +1 min

July 30 (Reuters) - Walmart (WMT.N) has paid $1.4 billion to buy out hedge fund Tiger Global's investment in e-commerce firm Flipkart, the Wall Street Journal reported on Sunday, citing a letter by the hedge-fund to its investors. Walmart, Flipkart and Tiger Global did not immediately respond to Reuters' request for comment. Earlier this year the Economics Times reported that private equity firms Accel and Tiger Global, two early backers of Flipkart, were in talks to sell their remaining stake in the company to Walmart. Tiger Global held about 4% of the company, according to the ET report. Walmart acquired a majority stake of 77% in Flipkart for about $16 billion in 2018, and later that year said it could take the company public in four years.

Persons: Japan's SoftBank, Yana Gaur, Kim Coghill, Chris Reese Organizations: Walmart, Tiger, Flipkart, Wall Street, Tiger Global, Reuters, Economics Times, Accel, Thomson Locations: U.S, Flipkart, Bengaluru

☆ Chip giant Arm snubbed London for a NY listing. But the London Stock Exchange hasn't given up hope
▼ + stars: | 2023-06-06 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Visitors look out to St. Paul's Cathedral from a rooftop in the City of London, UK, on Thursday, March 2, 2023. "I absolutely know there was strong appetite from investors in the U.K. for Arm. And it was always going to be a both sides of the Atlantic trade. The fact that, actually, the U.S. had to fight as hard as they did to get it, I think illustrates how strong our proposition actually is." London reform

Persons: Julia Hoggett, CNBC's Arjun Kharpal, Hoggett, Japan's SoftBank Organizations: City of, Bloomberg, Getty, London Stock Exchange, Nvidia Locations: St, Paul's, City, City of London, New York, U.S, Amsterdam, London

☆ Abu Dhabi's Mubadala to buy majority stake in Fortress Investment from SoftBank
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +1 min

May 22 (Reuters) - Abu Dhabi's Mubadala Investment Co will acquire a majority stake in U.S. asset manager Fortress Investment Group from Japan's SoftBank Group Corp (9984.T). Financial terms of the deal were not disclosed, Mubadala and Fortress Investment said in a joint statement on Monday. After the completion of the deal, Fortress' management will own a 30% stake in the company, while Mubadala Capital will hold the rest, according to the statement. Fortress management will hold a class of equity that entails it to appoint a majority of seats on the board. Fortress will appoint Drew McKnight and Joshua Pack as co-CEOs and Pete Briger as chairman, the companies said.

Bharadwaj, a former India managing director of Sequoia Capital who now leads venture capital firm A91 Partners. Indian VC firm Blume Ventures said in an April report consumption outside the top 30 million Indian households dropped sharply, and is driven by a "tiny superuser set". "Indian startups are not catering to a billion consumers. And only 271 Indian startups raised funding in Q1 2023, compared with 561 last year, according to CB Insights. It invested $3 billion in Indian companies in 2021 and another $500 million in 2022, by April that year, Reuters calculations show.

Organizations: & & .

☆ Credit Suisse lodges $440 mln London claim against SoftBank
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +2 min

[1/2] A view shows the logo of Credit Suisse on a building near the Hallenstadion where Credit Suisse Annual General Meeting took place, two weeks after being bought by rival UBS in a government-brokered rescue, in Zurich, Switzerland, April 4, 2023. REUTERS/Pierre AlbouyLONDON, April 19 (Reuters) - Credit Suisse (CSGN.S) has lodged a $440 million claim against Japan's SoftBank Group Corp (9984.T) in London as it presses ahead with formal proceedings in a dispute borne from the failure of Greensill Capital, a finance firm. A SoftBank spokesperson accused Credit Suisse of trying to shift blame for its own poor investment decisions and said the case was entirely without merit. "Credit Suisse continues to prioritize maximising recovery for investors in the supply chain finance funds," a spokesperson for the Swiss lender said. Credit Suisse is the biggest name to date to become ensnared in market turbulence unleashed by the collapse of U.S. lenders Silicon Valley Bank and Signature Bank.

☆ Shares of China's SenseTime jump after it unveils new AI products
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of SenseTime is seen at SenseTime office, in Shanghai, China December 13, 2021. REUTERS/Aly Song/File PhotoHONG KONG, April 11 (Reuters) - Shares of Chinese artificial intelligence (AI) company SenseTime (0020.HK) surged as much as 11% on Tuesday, a day after it unveiled a series of new AI-powered products as it joins a global race to dominate the sector. China's Alibaba Group Holdings (9988.HK) and Japan's Softbank Group Corp (9984.T) are both invested in the Chinese AI company. SenseTime's shares rose to as high HK$3.70, up 11.1% from its previous close but below its initial public offering price of HK$3.85 in December 2021. Alibaba's shares rose as much as 3.8%, while Softbank climbed 0.5%.

☆ Softbank-owned Arm seeks to raise prices ahead of U.S. IPO - FT
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +1 min

March 23 (Reuters) - Arm Ltd, owned by Japan's SoftBank Group Corp (9984.T), is seeking to raise prices for its chip designs, as it aims to boost revenue ahead of an initial public offering in New York, the Financial Times reported on Thursday. The British chip designer recently notified several of its customers of a "significant shift" to its business model, the newspaper said, citing several industry executives and former employees. Arm intends to alter its royalty program, ceasing to charge chipmakers royalties for using its designs based on a chip's value, and instead charge device makers based on the value of the device, the report said. As a result of this change, Arm anticipates generating multiple times more revenue for each design it sells, since the value of an average smartphone far exceeds that of a single chip. Reporting by Baranjot Kaur and Shubhendu Deshmukh in Bengaluru; Editing by Sonia Cheema and Varun H KOur Standards: The Thomson Reuters Trust Principles.

☆ Some cash in on land boom near Indonesia's new capital, others despondent
▼ + stars: | 2023-03-15 | by ( Stefanno Sulaiman | ) www.reuters.com time to read: +6 min

[1/3] Trucks are seen near a palm oil plantation at a village located near Indonesia's projected new capital, known as Nusantara National Capital, in Sepaku, East Kalimantan province, Indonesia, March 8 2023. Headman Rizki Maulana Perwira Atmadja, 38, said land prices around his village - 10 km (6 miles) from where a presidential palace is being built - had jumped four-fold. Land prices in places near a water reservoir had risen over 16-fold, said Junaidin, the village chief of Tengin Baru, a settlement of around 4,000 people within Nusantara's development zone. He said large property companies had not sought to acquire land banks in Nusantara due to the moratorium on permits. However, the Nusantara authority said land speculation should not affect development plans as compensation for land would be measured fairly by an independent party.

☆ The U.S. stock market keeps beating Europe in new listings. And it's no fluke
▼ + stars: | 2023-03-14 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

People clap during the ringing of the closing bell at the New York Stock Exchange. The United States is more attractive than European exchanges for new listings and there is not much that Europeans can do to change that, analysts told CNBC. Both examples highlight how the U.S. stock market is more attractive to the corporate world. Roger Jones, head of equities at London and Capital, told CNBC there are two main reasons why this is the case. "Sellers or listers can get better prices in the U.S. which still trades on significantly higher valuations than Europe.

☆ WeWork in talks with investors to restructure over $3 bln debt - NYT
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +1 min

March 7 (Reuters) - WeWork Inc (WE.N) is in talks with investors to restructure its outstanding debt of more than $3 billion and raise more cash, the New York Times reported on Tuesday. Yardi, a real estate software provider in Santa Barbara, California, is among the investors considering new investment in the company, the people told the newspaper. Japan's SoftBank Group Corp (9984.T), which is both WeWork's largest shareholder and its largest debtor, is playing a key role in the negotiations but is not expected to put any additional money into the company, the report said. WeWork did not immediately respond to a Reuters request for comment. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Arm is expected to confidentially submit paperwork for its initial public offering in late April, the sources said, speaking on condition of anonymity because the discussions are confidential. The listing is expected to happen later this year and the exact timing will be determined by market conditions, the sources added. SoftBank has picked four investment banks to lead what is expected to be the most high-profile stock market flotation in recent years. The preparations for the IPO are expected to be kick-started in the U.S. in the coming days, the sources said. The valuation range has not yet been finalized but Cambridge, England-based Arm is hoping to be valued at more than $50 billion during its share sale, the sources said.

[1/2] A worker shelters from the rain under a Union Flag umbrella as he passes the London Stock Exchange in London, Britain, October 1, 2008. REUTERS/Toby Melville/File PhotoLONDON, March 3 (Reuters) - London risks losing its appeal for stock market listings, some investors and financial executives said, with sluggish trading and low valuations driving more companies to float elsewhere. That dashed government hopes that Arm, seen as a British tech success story, would return to the London market, where it was listed before being taken over in 2016. Arm's announcement came a day after Dublin-based construction materials company CRH recommended moving its primary listing from London to the United States. But British companies that floated in New York have not necessarily had the smooth ride they expected, data compiled by the London Stock Exchange (LSE) (LSEG.L) suggests.

☆ British chip giant Arm chooses New York listing in a blow to London
▼ + stars: | 2023-03-03 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

City workers in Paternoster Square, where the headquarters of the London Stock Exchange is based, in the City of London, UK, on Thursday, March 2, 2023. British chip designer Arm, owned by Japan's SoftBank, and building materials group CRH intend to shun London and pursue stock market listings in the U.S., dealing a blow to the U.K.'s post-Brexit vision. Arm said in a statement Friday that it was seeking to pursue a U.S.-only listing this year. It comes shortly after CRH, one of the FTSE 100 's biggest companies, said it plans to move its primary stock market listing to New York. The news is likely to bolster fears that the U.K. stock market is losing out to international rivals.

☆ Morning Bid: Inflation 'blip' or brave new world?
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +5 min

U.S. Federal Reserve officials wrestled on Thursday with whether recent data showing inflation, jobs and spending all hotter than expected was a flash in the pan. "It could be that progress has stalled, or it is possible that the numbers released last month were a blip," said Fed Governor Christopher Waller. Atlanta Fed President Raphael Bostic urged a "slow and steady" course of policy response. The resilience of stock markets more generally to the week's bond market quake is notable and slightly puzzling - with implied volatility in bonds (.MOVE) climbing sharply while stock market equivalents (.VIX) subside. Two-year U.S. inflation expectations in the Treasury market climbed to 3% from 2% since early last month.

☆ SoftBank's Arm rebuffs London by choosing U.S. listing
▼ + stars: | 2023-03-03 | by ( Paul Sandle | ) www.reuters.com time to read: +3 min

The company did not completely rule out an eventual London listing, saying it intended to consider a subsequent IPO there in due course, without providing further details. London worked hard to get the listing, with Prime Minister Rishi Sunak and Arm Chief Executive Rene Haas meeting in Downing Street last month, according to reports. The loss follows a decision by Dublin-based building materials giant CRH on Thursday to move its primary listing from London to the United States. Arm has pushed into markets beyond smartphones, such as data center servers, where its low-power designs can cut energy use. It immediately identified New York as its preferred destination, where the company will join the likes of Intel, Qualcomm and Nvidia.

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