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    9984   JP3436100006

SOFTBANK GROUP CORP.

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SoftBank : Japan's SoftBank to invest in Indonesia's new capital

01/10/2020 | 06:22am EDT

Japan'sSoftBank Group Corp. plans to invest in the development of the new Indonesian capital on Borneo Island, the tech giant's founder and Chief Executive Officer Masayoshi Son said Friday.

Son revealed the plan after meeting Indonesian President Joko "Jokowi" Widodo and the president's close aide, Coordinating Minister for Maritime Affairs Luhut Pandjaitan in Jakarta.

According to Son, the scale of the investment has not been decided yet, but it will be separate from SoftBank's earlier pledge to invest $2 billion in Indonesia over five years.

"We are discussing potentials. We didn't discuss any specific number yet, but a new smart city, newest technology, a clean city and a lot of AI. That's what I'm interested in supporting," he told reporters.

Jokowi announced the plan to relocate the country's capital from Jakarta to Borneo in August last year, with five years being touted as a timeframe for the move.

The new capital will be located between the East Kalimantan provincial capital of Samarinda and Balikpapan, its largest city, located some 90 kilometers to the south. Both are situated near the east coast of the world's third-largest island.

Jokowi reiterated Indonesia needs to move its capital urgently to ease the burden on Jakarta, which suffers chronic pollution, traffic congestion and other woes.

Another aim is to close the development gap between Java and the country's other islands, he said. The main island, which is home to nearly 60 percent of Indonesia's population, currently accounts for 58 percent of its total gross domestic product.

==Kyodo

© Kyodo News International, Inc., source Newswire

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Analyst Recommendations on SOFTBANK GROUP CORP.
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Financials
Sales 2022 6 040 B 54 537 M 54 537 M
Net income 2022 1 310 B 11 826 M 11 826 M
Net Debt 2022 14 983 B 135 B 135 B
P/E ratio 2022 9,10x
Yield 2022 0,66%
Capitalization 11 353 B 103 B 103 B
EV / Sales 2022 4,36x
EV / Sales 2023 4,13x
Nbr of Employees 58 786
Free-Float 69,3%
Chart SOFTBANK GROUP CORP.
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SoftBank Group Corp. Technical Analysis Chart | 9984 | JP3436100006 | MarketScreener
Technical analysis trends SOFTBANK GROUP CORP.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 15
Last Close Price 6 627,00 JPY
Average target price 10 325,87 JPY
Spread / Average Target 55,8%
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
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