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December 6, 2007 |
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SOFTBANK CORP: Sees Alibaba-related Q3 Profit of JPY55 Billion Softbank Corp. expects to post an equity-method investment profit related to Alibaba.com Ltd. of JPY55 billion in the current quarter ending December 31, Kiyoshi Takenaka writes for Reuters. Reuters relates that Softbank, on the day of Alibaba.com's trading debut, said it would book an investment profit in connection with the market listing. Softbank, Reuters notes, owns one-third of Alibaba Group Holdings, parent company of Alibaba.com, which made its market debut in Hong Kong on November 6 after raising US$1.49 billion in Hong Kong's popular initial public offering. Based in Tokyo, Japan, Softbank Corporation -- http://www.softbank.co.jp/ -- is a leading Japanese telecommunications and media corporation. SoftBank was established on September 3, 1981. The company operates in eight business segments: * Broadband Infrastructure Segment * Fixed-line Telecommunications Segment * e-Commerce Segment * Internet Culture Segment * Broadmedia Segment * Technology Services Segment * Media & Marketing Segment * Overseas Funds Segment Softbank is also involved with leisure and service operations, e-finance, holding company functions for overseas operations, and back-office services in Japan. SoftBank's corporate profile includes various other companies such as Japanese broadband company Cable & Wireless IDC, cable company BB-Serve, and gaming company GungHo Online Entertainment. In 2006, SoftBank bought Vodafone Japan, giving it a stake in Japan's US$78 billion mobile market. As of March 31, 2007, the company's paid-in capital was JPY163.3 billion. * * * The Troubled Company Reporter-Asia Pacific reported on June 7, 2007, that Standard & Poor's Rating Agency lifted its long-term corporate credit and senior unsecured debt ratings to BB from BB- in light of the company's increasing earnings stability. The outlook for the long-term credit rating is stable. Moody's Investors Service, on August 9, 2006, upgraded Softbank Corp.'s stable long-term debt rating and issuer rating to Ba2 from Ba3, concluding a review initiated on March 17, 2006, when the company announced that it would acquire a 97.7% stake in mobile phone giant Vodafone Group's Japanese unit, Vodafone K.K. |
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