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    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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SoftBank : to sell 5% stake in mobile phone unit for 310 bil. yen

05/21/2020 | 09:58pm EDT

SoftBank Group Corp. said Friday it will sell a 5 percent stake in its wireless carrier unit for 310.2 billion yen ($2.87 billion) as part of its plan to secure 4.5 trillion yen in cash to buy back its own stocks and reduce debts.

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

The shares will be first sold to Goldman Sachs Group Inc., Credit Suisse Group AG and Mizuho Securities Co., which will hold voting rights of 2.5 percent, 2.0 percent and 0.5 percent, respectively.

They will then be resold through securities companies after the initial sale is completed by next Tuesday, according to SoftBank Group.

SoftBank Group said in March it will sell up to 4.5 trillion yen of assets in a bid to improve a balance sheet hit by failed investments including in U.S. workspace provider WeWork as well as by the global financial market turmoil over the coronavirus outbreak.

==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 55 135 M 55 135 M
Net income 2022 1 310 B 11 956 M 11 956 M
Net Debt 2022 14 983 B 137 B 137 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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