Log in
E-mail
Password
Show 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 Group Corp.
  6. News
  7. Summary
    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

SoftBank : CEO Son says share buybacks remain an option for firm

06/23/2021 | 12:32am EDT
FILE PHOTO: A journalist raises her hand to ask a question to Japan's SoftBank Group Corp Chief Executive Masayoshi Son during a news conference in Tokyo

TOKYO (Reuters) - SoftBank Group Corp CEO Masayoshi Son said on Wednesday share buybacks remain an option for the conglomerate, amid a slide in its shares.

"Buybacks are always on my mind as an important option but when and how big requires balanced thinking," Son said at SoftBank's annual shareholders' meeting, adding that the group also needs to consider alternative uses of its capital.

Shares in SoftBank, which completed a record 2.5 trillion yen ($22.6 billion) buyback programme in May, have fallen amid weakness in tech stocks. That has helped widen its conglomerate discount - the gap between the value of its assets and share price - to about 50%.

SoftBank shares were flat at 7,699 yen on Wednesday. Further falls to 7,000-7,500 yen "may increase the expectation of a buyback", Jefferies analyst Atul Goyal wrote in a note earlier this month.

Buybacks would increase 63-year-old Son's own shareholding and make any management buyout easier to achieve.

"I believe our potential is much bigger than the discounted share price," said Son, calling on shareholders to take a long-term view on the company.

The billionaire drew a historical comparison, saying that while credit is given to inventors like 18th century British steam engine pioneer James Watt, the capitalists that funded the railways are overlooked.

"Just as the Rothschilds were a central player in the industrial revolution, we'd like to become the key player in the information revolution," said Son in reference to the prominent European banking dynasty.

He sought to put the focus on SoftBank's role as a "capital provider for the information revolution" backing tech startups around the world but faced repeated questions at the meeting about its plans for repurchases.

"Aren't you going to do more, are you still not doing it, how much will you buy - being so concerned about only this makes me a little sad," Son said.

($1 = 110.7300 yen)

(Reporting by Sam Nussey; Editing by Muralikumar Anantharaman)

By Sam Nussey


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
NVIDIA CORPORATION -1.54% 219 Delayed Quote.67.75%
SOFTBANK GROUP CORP. 1.82% 6661 End-of-day quote.-17.34%
All news about SOFTBANK GROUP CORP.
09/17VC DAILY : Question: What's Top of Mind for VCs as the Fourth Quarter Approaches..
DJ
09/17ARES MANAGEMENT : Makes $150 Million Preferred Equity Investment in Inter Miami
MT
09/17COUPANG : SoftBank Unit Sells About $1.69 Billion of South Korean Coupang Stake
MT
09/17SOFTBANK : Vision Fund sold 57 million Coupang shares for $1.69 billion
RE
09/17Japanese shares post 4th weekly gain on catch-up trade, chipmakers boost
RE
09/17SoftBank Group's Vision Fund Sells $1.69 Billion of Coupang Shares
DJ
09/17SOFTBANK : Vision Fund's sold Coupang shares for $1.69 bln - Nikkei
RE
09/16SOFTBANK : Boeing names new government operations chief
RE
09/16SOFTBANK : Adds New Managing Partners to Latin America Funds' Investment Team to..
BU
09/16SOFTBANK : Online retailer THG plans to spin off and list beauty business in 202..
RE
More news
Analyst Recommendations on SOFTBANK GROUP CORP.
More recommendations
Financials
Sales 2022 6 040 B 54 906 M 54 906 M
Net income 2022 1 310 B 11 906 M 11 906 M
Net Debt 2022 14 983 B 136 B 136 B
P/E ratio 2022 9,15x
Yield 2022 0,66%
Capitalization 11 411 B 104 B 104 B
EV / Sales 2022 4,37x
EV / Sales 2023 4,14x
Nbr of Employees 58 786
Free-Float 69,3%
Chart SOFTBANK GROUP CORP.
Duration : Period :
SoftBank Group Corp. Technical Analysis Chart | 9984 | JP3436100006 | MarketScreener
Technical analysis trends SOFTBANK GROUP CORP.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Last Close Price 6 661,00 JPY
Average target price 10 507,87 JPY
Spread / Average Target 57,8%
EPS Revisions
Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Raul Marcelo Claure Chief Operating Officer & Executive Vice President
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
Sector and Competitors
1st jan.Capi. (M$)
SOFTBANK GROUP CORP.-17.34%103 843
AT&T INC.-4.28%196 560
T-MOBILE US-5.08%159 740
KDDI CORPORATION26.39%79 347
AMÉRICA MÓVIL, S.A.B. DE C.V.25.88%59 833
VODAFONE GROUP PLC-5.47%43 375