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

Third of SoftBank shareholders oppose lawyer's appointment to board

06/25/2021 | 05:16am EDT
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo

TOKYO (Reuters) -Nearly a third of SoftBank Group Corp's shareholders opposed the appointment of lawyer Ken Siegel to the firm's board at this week's annual shareholder meeting, in an unusual display of disapproval from some of its normally highly loyal investors.

Siegel heads the Tokyo office of law firm Morrison & Foerster and has worked on some of SoftBank's biggest deals. Proxy adviser Glass Lewis urged https://www.reuters.com/article/softbank-group-corporate-governance-idCNL3N2NQ095 shareholders to oppose his election due to his professional ties to the conglomerate.

Shareholders voted 69.77% in favour of Siegel's election. Nominees need a majority of votes to join the board.

By contrast shareholders voted 99.85% in favour of the SoftBank's other new independent director, gaming executive Keiko Erikawa. Founder and CEO Masayoshi Son received 97.92%.

The vote comes amid increasing displays of investor displeasure in Japan, which is known for its conservative corporate culture, with the ousting of Toshiba's chairman on Friday seen as a watershed moment.

Criticism has frequently focused on the makeup of SoftBank's board, which is said to lack voices that can stand up to Son. The group reported record earnings in the year ended March, burnishing the billionaire's investing credentials.

Son called on shareholders on Wednesday to take a long-term view on the company, which he described as a "capital provider for the information revolution."

(Reporting by Sam Nussey; Editing by Edmund Blair and Kim Coghill)

By Sam Nussey


ę Reuters 2021
All news about SOFTBANK GROUP CORP.
08:35aExscientia Sets IPO at 13.1 Million ADSs; Sees Pricing at $20-$22 Each
DJ
06:17aSOFTBANK : Nomura Adjusts SoftBank Group's Price Target to 9,780 Yen From 10,070 Yen, Keep..
MT
06:11aSOFTBANK : leads $122m funding round in UK events ticketing company DICE
AQ
06:00aSOFTBANK : AI navigation startup Phiar lands ex-Google manager, funding from Telenav
RE
09/25Certain Common Stock of Appier Group, Inc. are subject to a Lock-Up Agreement Ending on..
CI
09/24SoftBank-backed Banco Inter and StoneCo in talks on potential merger -source
RE
09/24VC DAILY : Question: What to Make of Efforts in Congress to Lower Drug Prices?
DJ
09/23VC DAILY : Biotechs Seek New Skill Set From Scientists Entering Field
DJ
09/23FROM E-BIKES TO FLYING CARS : India's Ola plots mobility future
RE
09/23SOFTBANK : MEDIA-SoftBank leads $200 mln investment in robotics startup Opentrons Labwork ..
RE
More news
Analyst Recommendations on SOFTBANK GROUP CORP.
More recommendations
Financials
Sales 2022 6 040 B 54 447 M 54 447 M
Net income 2022 1 310 B 11 807 M 11 807 M
Net Debt 2022 14 983 B 135 B 135 B
P/E ratio 2022 9,10x
Yield 2022 0,66%
Capitalization 11 348 B 102 B 102 B
EV / Sales 2022 4,36x
EV / Sales 2023 4,13x
Nbr of Employees 58 786
Free-Float 69,3%
Chart SOFTBANK GROUP CORP.
Duration : Period :
SoftBank Group Corp. Technical Analysis Chart | 9984 | JP3436100006 | MarketScreener
Technical analysis trends SOFTBANK GROUP CORP.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Last Close Price 6 624,00 JPY
Average target price 10 325,87 JPY
Spread / Average Target 55,9%
EPS Revisions
Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Raul Marcelo Claure Chief Operating Officer & Executive Vice President
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
Sector and Competitors
1st jan.Capi. (M$)
SOFTBANK GROUP CORP.-17.80%102 545
AT&T INC.-5.67%193 704
T-MOBILE US-4.02%161 524
KDDI CORPORATION24.85%77 802
AMÉRICA MÓVIL, S.A.B. DE C.V.24.64%58 797
VODAFONE GROUP PLC-5.90%42 861