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The draft plan, which was presented at Kishida's top economic advisory panel on Wednesday, underscored the challenge for the leader, who is seen as a fiscal hawk, to strike a balance between economic growth and fiscal consolidation. The closely-watched policy framework will be approved by Kishida's cabinet this month, along with a separate action plan on his "new capitalism" agenda. "We will not abandon the flag of fiscal reform," Economy Minister Shigeyuki Goto told reporters after the panel's meeting. "There's no change to the government stance of striving to achieve a primary budget surplus in fiscal 2025," Goto added. The framework said the government will conduct a review of any progress of its fiscal reform in the fiscal year 2024 so as to create a medium-term economy and fiscal scheme.

Persons: Fumio Kishida's, Takahide Kiuchi, Shigeyuki Goto, Goto, largesse, Kishida Organizations: Nomura Research Institute, Liberal Democratic Party, LDP ₎, International Monetary Fund, Bank of Japan, Thomson Locations: TOKYO, Japan

☆ SoftBank shares swept up in AI chip frenzy ahead of Arm IPO
▼ + stars: | 2023-06-02 | by ( Sam Nussey | ) www.reuters.com time to read: +1 min

TOKYO, June 2 (Reuters) - SoftBank Group Corp (9984.T) shares jumped 5% in early Friday trade as the technology investor - which is preparing an initial public offering of chip designer Arm - was caught up in a frenzy for semiconductor and artificial intelligence-related stocks. The Japanese conglomerate, which has been hit by the slumping value of its tech portfolio, has seen its shares gain 17% since last week's close. On Friday, SoftBank passed the psychological level of 6,000 yen for the first time since February. "We expressed a view that SBG stock will rally ahead of the ARM IPO later in the year... "He feels that 'finally my time has come'," SoftBank Chief Financial Officer Yoshimitsu Goto told reporters at an earnings briefing last month.

Persons: SoftBank, Jefferies, Atul Goyal, Masayoshi Son, Yoshimitsu Goto, Sam Nussey, Jacqueline Wong, Christopher Cushing Organizations: SoftBank Group Corp, U.S, Nvidia Corp, Semiconductor, ARM, Advantest Corp, Tokyo Electron, Thomson Locations: TOKYO, Philadelphia

Kishida has vowed to double childcare spending over the next three years in a bid to help reverse the country's dwindling birth rate. The government had previously estimated that it needed to secure around 3 trillion yen per year to cover the expansion of childcare allowances and other related benefits. Kishida unveiled the increased size of spending at a meeting of ministers, including Finance Minister Shunichi Suzuki, Goto said. The economy minister also attended the meeting. "Prime Minister Kishida told us to consider expanding childcare measures by around 3.5 trillion yen in the process of compiling the annual budget," Goto told reporters.

Persons: Fumio Kishida, Shigeyuki Goto, Kishida, Shunichi Suzuki, Goto, Kyodo newsagency, Yoshifumi Takemoto, Himani Sarkar Organizations: Finance, Kyodo, Thomson Locations: TOKYO, Japan

☆ SoftBank shares drop after its Vision Fund tech investment unit posts a $32 billion record loss
▼ + stars: | 2023-05-12 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

In this article 9984.T-JP Follow your favorite stocks CREATE FREE ACCOUNTSoftBank's Vision Fund posted a record loss in the year ended Mar. The flagship tech investment unit has been hit by the falling prices of tech stocks. Akio Kon | Bloomberg | Getty ImagesShares of Japanese tech investor SoftBank fell on Friday after the company reported a record loss at its Vision Fund tech investment unit. The company said on Thursday that its Vision Fund segment lost a record 4.3 trillion Japanese yen ($32 billion) for its fiscal year ending Mar. The $100 billion Vision Fund was launched in 2017 under the stewardship of SoftBank founder Masayoshi Son and shook up the tech investing world.

☆ SoftBank posts record $32 billion loss at its Vision Fund tech investment arm
▼ + stars: | 2023-05-11 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

The Japanese giant's Vision Fund segment posted a 4.3 trillion Japanese yen ($32 billion) loss for its fiscal year ending Mar. 31 versus a 2.55 trillion yen loss in the same period a year before. SoftBank posted an overall loss on investments at its Vision Funds of 5.28 trillion Japanese yen versus 3.43 trillion yen a year before. The brainchild of founder Masayoshi Son, SoftBank's Vision Fund comprises Vision Fund 1 and Vision Fund 2 and invests in high growth stocks, which have faced headwinds from rising interest rates globally causing investors to sell out of riskier equities such as tech. Misra was instrumental in the early days of the Vision Fund, which was launched in 2017.

☆ ISS backs all four ValueAct director candidates in Seven & I boardroom fight
▼ + stars: | 2023-05-10 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

"A vote AGAINST company nominees Isaka, Goto, Yonemura, (Shinji) Wada and (Fuminao) Hachiuma is warranted." ISS said ValueAct is calling for a deliberate succession process for the CEO. On Tuesday, ISS extended support for ValueAct's campaign by endorsing all of its candidates and spelling out where the company has faltered. ValueAct and other investors had urged the company to undertake a strategic review and consider spinning off its 7-Eleven chain or selling the entire company. ISS said that ValueAct's nominees bring board experience, capital allocation and executive experience, and Levinson would add a shareholder perspective.

☆ ISS backs all 4 ValueAct director candidates in Seven & I boardroom fight
▼ + stars: | 2023-05-09 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

"A vote AGAINST company nominees Isaka, Goto, Yonemura, (Shinji) Wada and (Fuminao) Hachiuma is warranted." ISS said ValueAct is calling for a deliberate succession process for the CEO. On Tuesday, ISS extended support for ValueAct's campaign by endorsing all of its candidates and spelling out where the company has faltered. ISS said that ValueAct's nominees bring board experience, capital allocation and executive experience, and Levinson would add a shareholder perspective. ValueAct has experience on boards at Japanese companies, having won seats at Olympus and JSR Corp.

TOKYO, May 2 (Reuters) - Banking sector problems in the United States and Europe were caused by liquidity and interest rates risks, but won't impact on Japan's economy and financial system for now, Economy Minister Shigeyuki Goto said on Tuesday. Financial institutions and authorities will need to respond firmly to liquidity risks," Goto said. "I don't see the U.S. financial sector facing big problems." "The BOJ as central bank should tackle monetary policy operations, but I don't see the current financial situation impacting Japan's economy and financial sector as a whole. "I expect the BOJ to guide monetary policy flexibly, meaning that the central bank should do so appropriately taking economy and financial markets into account."

☆ GoTo's gross revenue declined on a sequential basis, says DBS Bank
▼ + stars: | 2023-04-28 | 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 EmailGoTo's gross revenue declined on a sequential basis, says DBS BankSachin Mittal of the Singapore bank discusses the Indonesian tech giant's earnings and says "cost-cutting was clearly the focus."

☆ Indonesia's GoTo reports narrower Q1 loss, expects core profit in Q4
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

Like many other tech companies, GoTo has been reducing its spending and laying off staff this year to ride out the global economic uncertainty. Group CEO Andre Soelistyo said in a statement the company was halfway towards becoming adjusted EBITDA positive in the fourth quarter. "A lower cost base will provide us with additional flexibility to allocate capital for the acceleration of growth in the future," GoTo Group CFO Jacky Lo said. GoTo posted a net loss of 3.9 trillion rupiah in the first three months of 2023, versus a loss of 6.6 trillion rupiah a year earlier. GoTo shares closed up 4.21% at 99 rupiah per share on Thursday before the earnings announcement.

The firm debut by Harita Nickel could boost sentiment surrounding upcoming IPOs in Indonesia, which is one of the world's hottest IPO markets this year on a drive by the government to privatise some state-owned enterprises. Harita Nickel's stock opened at 1,285 rupiah per share, slightly higher than its initial public offering (IPO) price of 1,250 rupiah a share, on the Indonesian stock exchange. The IPO comes at a time when nickel-rich Indonesia steps up efforts to become a major player in the electric vehicle industry. Harita Nickel's peer Merdeka Battery Materials is scheduled to debut on the local bourse next, on April 18, after raising 8.75 trillion rupiah. Harita Nickel's IPO was the largest in Indonesia in almost a year after the $1.1 billion listing of tech firm GoTo (GOTO.JK) in April.

Europe-wide inflation data is due at 0900GMT. French inflation data on Friday also came in a whisker above expectations, and Dutch inflation also rose. "Inflation data in the eurozone will be an important driver, (for the euro)" said Francsco Pesole, FX strategist at ING, who expects the euro to reach $1.10 some time next week, after consolidating today. The dollar has also been dragged back as the focus on the U.S. banking sector in March caused U.S. interest rate markets to dramatically reprice the outlook. Both currencies found support from expanding Chinese manufacturing activity, though data on Friday showed the pace was slowing down.

Prime Minister Rishi Sunak said Britain had agreed to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), in a move his office said was the biggest trade deal since Brexit. Britain has been looking to build global trade ties following its departure from the EU in 2020 and has looked to pivot toward geographically distant but fast-growing economies. The overall impact of the trade deal is set to be modest. Japan has asked the U.S. to return to the trans-Pacific trade pact after Washington in 2017 formally withdrew from the Trans-Pacific Partnership trade deal, the predecessor to the CPTPP. Japan's chief cabinet secretary Hirokazu Matsuno said it was "desirable" for the U.S. to rejoin the trade pact and Tokyo would persist in pressing Washington to become a member.

☆ These tech giants are still making money, but layoffs are coming hard and fast
▼ + stars: | 2023-03-24 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Here are some of the more prominent global tech firms that have axed staff despite earning big money. 30 despite a "dynamic environment," CEO Satya Nadella said in the tech giant's annual report. Despite that, Microsoft announced in January that it's laying off 10,000 workers as the firm braces for slower revenue growth. The enterprise software company also returned to positive operating profit growth of 2%. However, SAP announced in January that it's cutting up to 3,000 jobs, as the leadership seeks to steer the company toward double-digit profit growth in 2023.

☆ Shares of Indonesia's GoTo fall more than 4% as 2022 loss swells to $2.6 billion
▼ + stars: | 2023-03-21 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

GoTo Group posted a wider full-year 2022 net loss of 40.4 trillion rupiah ($2.63 billion) in its latest earnings report. Shares of GoTo Group fell as much as 4.62% on Tuesday after the Indonesian tech giant's annual net loss for 2022 widened. The full-year net loss came in at 40.4 trillion Indonesian rupiah ($2.63 billion) last year, according to its latest earnings report. Here are the key takeaways:Net revenue: 11.3 trillion rupiah, vs. 5.2 trillion rupiah in 2021Adjusted loss before interest, taxes, depreciation and amortization: 16 trillion rupiah, vs. 16.5 trillion rupiah in 2021Net loss: 40.4 trillion rupiah, vs. 25.9 trillion rupiah in 2021And in the fourth quarter of 2022:Net revenue: 3.4 trillion rupiah, vs. 4.5 trillion rupiah in the third quarterAdjusted EBITDA loss: 3.1 trillion rupiah, vs. 3.7 trillion rupiah in the previous quarterGoTo, the combined entity between ride-hailing giant Gojek and e-commerce marketplace Tokopedia, went public on the Indonesia Stock Exchange last April. "This strategy enabled us to reduce incentives and product marketing in fourth quarter 2022 by 34%, or 2.8 trillion rupiah, year-on-year.

☆ DBS Bank discusses Sea Limited, Grab and GoTo
▼ + stars: | 2023-03-21 | 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 EmailUncertain if Southeast Asia's top 3 tech titans have enough capital to absorb small players: DBSSachin Mittal of the Singapore bank says it remains uncertain if Southeast Asia's top three tech "titans" — Sea Limited, Grab and GoTo — will have "enough capital to absorb these small players."

☆ Indonesian Tech Champion GoTo’s Tough Balancing Act in 2023
▼ + stars: | 2023-03-20 | by ( Megha Mandavia | ) www.wsj.com time to read: 1 min

GoTo shares have declined 72% since its public listing in April last year. Indonesia’s ride-hailing and e-commerce company GoTo Group is racing toward profitability—but perhaps not fast enough for suddenly risk-averse investors. GoTo, Indonesia’s largest technology company, posted an adjusted loss before interest, tax, depreciation and amortization for the fourth quarter of 3.1 trillion Indonesian rupiah, equivalent to $201.89 million. That was less than half what it lost a year earlier, mainly thanks to aggressive cost cutting and a new focus on high-quality profitable users.

☆ 20 years of digital transformation, as seen by an IT expert
▼ + stars: | 2023-03-17 | by ( Sponsor Post | Created Insider Studios With Goto | ) www.businessinsider.com time to read: +7 min

Back then, the average person would hear the term "remote support" and probably think it meant getting help for their TV controller. Jaromi said he has seen teams increase their productivity between 20% to 50% by letting GoTo Resolve's efficiencies work for them. For SMBs, GoTo Resolve can often be their main IT presence. But Rescue and GoTo Resolve have constantly stayed a step ahead, building in the most secure layers possible. Looking to the futureOver his 18 years at GoTo, Jaromi has seen the company endure significant changes, from being an upstart innovator to an established industry leader.

☆ Dangers from Hacks Stretch Beyond Broken Computer Systems
▼ + stars: | 2023-03-15 | by ( James Rundle | Kim S. Nash | ) www.wsj.com time to read: +6 min

Newsletter Sign-up WSJ Pro Cybersecurity Cybersecurity news, analysis and insights from WSJ's global team of reporters and editors. Part of the delay, he said, was in getting details from the cloud company, which he declined to name. Cybersecurity companies should be held to a higher standard than others in relaying information about hacks quickly and thoroughly, Mr. Toubba said. The lessons learned from cyberattacks can be just as important as how a company responds to a breach, security chiefs say. LastPass has also rolled out several security tools in its infrastructure, data center and cloud systems, Mr. Toubba said.

☆ Middle East pivot to Asia is strategic this time
▼ + stars: | 2023-03-14 | by ( Una Galani | ) www.reuters.com time to read: +6 min

Xi Jinping has brokered a deal the United States would have found hard to secure, despite its traditional military influence in the Middle East. The Middle East has trained its financial sights on Asia before. At current rates of growth, emerging Asia will become the top trade partner for the Gulf countries by 2028, per Asia House, surpassing advanced economies. As U.S.-China relations continue to sour, the Asian financial centre is looking to the Middle East to find new foreign companies to trade in the territory. Delegations from the two Middle East countries held talks in Beijing between March 6 and 10, the statement added.

☆ Indonesia tech firm GoTo to cut 600 more jobs - statement
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +1 min

March 10 (Reuters) - Indonesia's biggest tech firm PT Goto Gojek Tokopedia (GOTO.JK) announced on Friday another round of layoffs aimed at streamlining the organisation and boosting the company's profitability. About 600 roles will be affected, the company said in a statement, following 1,300 jobs that were cut late last year. The company has previously said the laysoffs are aimed at making the company more "agile" and maintaining growth amid challenging global economic conditions. GoTo said last month that adjusted EBITDA is expected to turn positive in the last quarter of 2023 due to its cost management measures. Reporting by Stefanno Sulaiman, Writing by Bernadette Christina Munthe; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

☆ The Bank of Japan is going to shift its focus away from 10-year yield, says Nomura
▼ + stars: | 2023-03-09 | 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 EmailThe Bank of Japan is going to shift its focus away from 10-year yield, says NomuraYujiro Goto of the financial services firm says that when it comes to Japan's economy, the 5-year yield or 3-year yield is much more important for capital expenditure and housing investments.

☆ Sea sails past growth vs. profitability debate
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, March 8 (Reuters Breakingviews) - Singapore technology giant Sea (SE.N) on Tuesday reported its first ever quarterly profit, beating regional tech firms like GoTo (GOTO.JK) and Grab (GRAB.O) to the punch. The almost $1 billion swing from a fourth-quarter loss in 2021 to a $423 million profit in the final three months of last year is largely down to cost cuts. The company run by Forrest Li slashed sales and marketing expenses alone by $745 million, a whopping 62% drop. Whether that’s sustainable is unclear, though Li pointed out that the company had sold, closed or downsized a number of non-core operations and investments. It’s a welcome sign that upstart tech companies don’t always have to sacrifice profitability for growth.

☆ 42% of IT professionals will quit in the next 6 months. Here's how the right software can help them avoid burnout.
▼ + stars: | 2023-03-01 | by ( Sponsor Post | Created Insider Studios With Goto | ) www.businessinsider.com time to read: +8 min

The right software can help businesses who can't find the staff they need. Worldwide the talent shortage could result in unrealized output of $449.70 billion. Alarming numbers underscore the fact that the talent shortage is everywhere. GoTo Resolve can help irrigate the IT desert by providing remote access troubleshooting, support, ticketing, and camera sharing a click away. Essentially, many of the services an enterprise needs to hire for can be procured through Rescue and GoTo Resolve.

☆ Top 4 customer support trends of 2023
▼ + stars: | 2023-02-27 | by ( Sponsor Post | Created Insider Studios With Goto | ) www.businessinsider.com time to read: +7 min

Customer support trends reflect the changing ways we work, including the need for remote support. Customer support trends have changed as the need for speed and seamlessness has increased. Today, remote tools can be used across the entire ecosystem of an enterprise, from customer support to cybersecurity. So what are the emerging customer support trends for 2023, and how can technology help your business address them? Rescue's suite of turnkey services is generally geared toward enterprise customers, and supports internal IT teams and external customer support teams working through call centers or support centers.

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