Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Japan
  4. Japan Exchange
  5. SoftBank Corp.
  6. News
  7. Summary
    9434   JP3732000009

SOFTBANK CORP.

(9434)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

SoftBank sues Rakuten, ex-worker over using leaked 5G technology info

05/06/2021 | 04:48am EDT

Japanese wireless carrier SoftBank Corp. said Thursday it has filed a damages suit against a former employee and rival Rakuten Mobile Inc. for illegally using the plaintiff's 5G network technology information leaked by the ex-SoftBank worker.

In the lawsuit with the Tokyo District Court, SoftBank Group Corp.'s mobile phone service subsidiary is seeking 1 billion yen ($9.1 million) as part of its alleged damages totaling about 100 billion yen, it said.

SoftBank is also demanding suspension of the use of Rakuten's base stations which have allegedly been built based on the leaked information and that they be scrapped.

In response to the legal action, Rakuten said it has not confirmed any use of SoftBank's trade secrets in its internal investigation and will present its views in the upcoming court hearings.

In January, police arrested Kuniaki Aiba, who joined Rakuten Group Inc.'s wireless unit soon after leaving SoftBank in December 2019, on suspicion of having transferred data on the plaintiff's 5G technology to his own email account in violation of Japan's unfair competition prevention law.

SoftBank said in a press release that Rakuten once had electronic files containing SoftBank's trade secrets on its server. Rakuten said the files had been abandoned after submitting them to the court and the plaintiff, according to SoftBank.

In September last year, Rakuten started offering unlimited data services using ultrafast 5G networks for 2,980 yen per month, much lower than other major mobile phone service operators in Japan amid intensifying competition.

Rakuten entered the wireless market in October 2014 as a virtual mobile network operator, using other mobile phone operators' networks and started full-scale services with its own networks last year.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
RAKUTEN GROUP, INC. 3.98% 1253 End-of-day quote.26.06%
SOFTBANK CORP. 0.73% 1450 End-of-day quote.12.14%
SOFTBANK GROUP CORP. -1.07% 6837 End-of-day quote.-15.15%
All news about SOFTBANK CORP.
07/23SOFTBANK : Getaround car sharing company settles with Washington, D.C. for $950,..
RE
07/15Revolut Valued at $33 Billion After SoftBank Injection as UK's Most Valuable ..
DJ
07/14Toyota buys U.S. mapping, road data firm to bulk up driverless tech
RE
07/09Softbank Reportedly in Early Talks to Invest in PharmEasy
CI
07/07SOFTBANK : Japan's SoftBank hires NBCUniversal exec as global communications hea..
RE
06/30SOFTBANK CORP. : and Smart Africa Secretariat Agree to Collaborate on Providing ..
BU
06/25Third of SoftBank shareholders oppose lawyer's appointment to board
RE
06/23Ericsson sets up Japan's first multi-operator RAN with KDDI and SoftBank
AQ
06/23MASAYOSHI SON : SoftBank CEO Son says share buybacks remain an option for firm
RE
06/23SOFTBANK : CEO Son says share buybacks remain an option for firm
RE
More news
Financials
Sales 2022 5 567 B 50 755 M 50 755 M
Net income 2022 519 B 4 732 M 4 732 M
Net Debt 2022 4 190 B 38 198 M 38 198 M
P/E ratio 2022 13,3x
Yield 2022 5,93%
Capitalization 6 795 B 62 025 M 61 954 M
EV / Sales 2022 1,97x
EV / Sales 2023 1,88x
Nbr of Employees 37 821
Free-Float 57,9%
Chart SOFTBANK CORP.
Duration : Period :
SoftBank Corp. Technical Analysis Chart | 9434 | JP3732000009 | MarketScreener
Technical analysis trends SOFTBANK CORP.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 1 450,00 JPY
Average target price 1 652,05 JPY
Spread / Average Target 13,9%
EPS Revisions
Managers and Directors
Junichi Miyakawa President, CEO & Representative Director
Kazuhiko Fujihara Chief Financial Officer & Director
Ken Miyauchi Chairman
Takashi Tsutsui Chief Scientist & Managing Executive Officer
Keiichi Makizono Chief Information Officer
Sector and Competitors
1st jan.Capi. (M$)
SOFTBANK CORP.12.14%62 025
CELLNEX TELECOM, S.A.33.29%45 782
BHARTI AIRTEL LIMITED12.74%42 473
SAFARICOM PLC20.00%15 146
MTN GROUP LIMITED86.99%14 060
TELE2 AB16.16%10 091