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Feb. 6, 2019 08:44 UTC

SoftBank Buyback $5.5 Billion Following Successful Telecoms IPO Say Yokohama Daisan Management

OSAKA, Japan--(BUSINESS WIRE)-- Yokohama Daisan Management recently highlighted that SoftBank Groups recent telecommunications business had a very successful initial public offering and the company was going to buyback around 600 billion yen, around $5.5 billion U.S. Dollars.

“SoftBank had raised over 2 trillion yen from the listing of the telecom business. The target translates to around ten percent of all issued shares while the company tries to improve its shareholder returns,” commented George Chase, Head of Corporate Trading from Japanese wealth management company Yokohama Daisan Management.

Chief Executive Officer of SoftBank Group, Masayoshi Son has transformed SoftBank Group from being a primary telecoms operator by branching out and investing into technology companies. His portfolio includes some of the biggest names in the industry such as transportation network Uber Technologies Inc. and chipmaker Arm Holdings Plc.

Analysts from Yokohama Daisan Management reported that the Vision Fund had sold its entire holdings in U.S. graphics chipmaker Nvidia Corp in January that was worth around 398 billion yen. With much success coming from valuation gains SoftBanks Vision Fund has tripled to over 170 billion yen.

The companies operating income rose to around 60 percent making it over 430 billion yen in the last three months of 2018. However the company didn't publish its full-year on year earnings forecasts but revenues did increase to around 5 percent.

“SoftBanks telecom unit did report a 24 percent increase in profit during the last quarter. This comes with a massive service outage that reached millions of customers prior to its IPO in December” Added William Thomson, Senior Vice President at Yokohama Daisan Management.

They keep its outlook for their net income to rise around 5 percent to 420 billion yen in the fiscal year coming to and end in March.

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Tashiro Shiro
Research & Media,
tashiro.s@ydminternational.com
+81 6 4560 5504


Source: Yokohama Daisan Management

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