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    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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SoftBank : to sell 5% of wireless carrier unit stake

05/21/2020 | 06:08am EDT

SoftBank Group Corp. said Thursday it will sell 5 percent of its stake in a wireless carrier unit as part of its plan to secure 4.5 trillion yen ($42 billion) in cash to buy back its own stock and reduce debt.

The Japanese conglomerate said it plans to sell 240 million shares of its subsidiary SoftBank Corp., one of Japan's three major mobile phone service operators in which it has a 67.1 percent stake.

SoftBank shares closed at 1,375 yen on the Tokyo Stock Exchange on Thursday, putting the value of the planned sale scheduled Tuesday at 330 billion yen. The shares will be "resold through securities companies."

SoftBank Group said in March it will sell up to 4.5 trillion yen of assets in an effort to improve its balance sheet hit by some of its major investments turning sour and global financial market turmoil over the coronavirus outbreak.

The Japanese company reported earlier in the week a record group net loss of 1.44 trillion yen for the January to March quarter as it wrote off the value of its key investments in startups including the operator of U.S. shared office space provider WeWork.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
SOFTBANK CORP. 0.28% 1600 End-of-day quote.23.74%
SOFTBANK GROUP CORP. 1.82% 6661 End-of-day quote.-17.34%
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Analyst Recommendations on SOFTBANK GROUP CORP.
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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.
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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
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