SoftBank swings to $6bn quarterly profit - Nikkei Asia
12 November, 2020, 14:40
The Japanese group on Monday reported a net profit of JPY 627 billion (USD 6 billion) for the July-September quarter, after rising valuations for its tech portfolio. The profit rode on the back of a $19 billion investment gain during the quarter, part of which was due to SoftBank's Vision Fund 2 investment in Chinese online real-estate broker Beike Zhaofang, which had its successful IPO in August.
Vision Fund's $75 billion investment in 83 startups was worth $76.4 billion at the end of September, the company said in a filing.
Son declined to comment on whether he wants to take SoftBank private but said he was "thinking every day" about the pros and cons of being a listed company.
The unit reported its biggest income in the three months ended Sept 30, rebounding from a ¥612 billion (RM24.26 billion) loss a year earlier, SoftBank said in a statement yesterday. "The changes to our board build upon the enhancements we made in June including ensuring we have a greater proportion of external board directors, and further highlight SoftBank's commitment to corporate governance".
Yasir al-Rumayyan, the head of Saudi Arabia's Public Investment Fund-Vision Fund's largest outside investor-also resigned effective Monday.
In the six months ended September 30, SoftBank booked an investment gain of ¥2 trillion, equivalent to $19 billion, including ¥1.3 trillion from improved performance at the Vision Fund as well as its more modest successor, Vision Fund 2.
That primarily reflected a gain related the merger of portfolio firm Sprint with T-Mobile US Inc, it said. The company said its high-profile foray into public-market investing, which has given it a portfolio of tech stocks such as Amazon.com Inc. that are worth almost $17 billion, had a stumble in the quarter by losing almost $3 billion on derivatives transactions.
SoftBank has announced a record ¥2.5 trillion of re-purchases, helping its stock hit a two-decade high last month.
In September, SoftBank Group announced an agreement to sell British chip designer Arm to US firm NVIDIA for up to $40 billion, potentially creating a new giant in the industry.
He said Monday the company was "keeping all options at hand" and declined to discuss the possibility of a management buyout. SoftBank founder Masayoshi Son said the changes are aimed at separating management and operations at the Japanese conglomerate, which is increasingly focusing on investments rather than managing its own companies. "That hasn't changed even for a day since I founded it".
Today Disney+ shared the new trailer and key art for its sweeping new movie, " Black Beauty ", premiering Friday, November 27 . The feature film will feature Mackenzie Foy , Kate Winslet , Iain Glen and Claire Forlani in the cast.
The team set out to find whether a coronavirus diagnosis was associated with higher rates of mental illness diagnoses thereafter. According to the psychiatrists, COVID-19 survivors are more likely to develop mental illness .
He said: "Every death is a tragedy", but added: "I do think we have got now to a different phase in the way that we treat it". There were 20,412 people who tested positive for COVID-19 in the latest daily figures, down slightly from 21,350 on Monday.
In an interview in January , Trebek said that he has been rehearsing a message that he will deliver on his final episode. The show will air the remaining 35 episodes as they were shot, "in his honor", according to the show's Instagram .
The bundle includes It includes a Google Chromecast Ultra for streaming games to your TV and a Stadia Controller . On Google's U.S. site, eligible subscribers must have a paid YouTube Premium membership as of November 6, 2020.
In April, the CDC first recommended widespread mask usage in an effort to protect other people from the person wearing the mask. "Masks also help reduce inhalation of these droplets by the wearer ("filtration for personal protection")".
This content material is accessible on the Peloton App in addition to via the Peloton Bike, Bike+ and Tread+. Peloton will work with the schools on building recurring programs for future internships and employment.
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Portchester, which is on the CT border, became a yellow zone earlier this week, but it will now increase to an orange zone. For example, there is a major spike on Staten Island , where there's a lot of interstate travel with New Jersey.
Barr issued the memo Monday to the surprise of senior officials, including Pilger, the person briefed on the matter said . He told prosecutors that "specious, speculative, fanciful or far-fetched claims" should be ignored.
The FTC's complaint specifically targeted the fact that Zoom said it offered " end-to-end encryption " to its users, but did not. FTC's internal commissions are now debating whether the settlement would change, making Zoom compensate said, users.
Blast in Jeddah, Saudi Arabia kills four
France's foreign ministry said that diplomats from a number of countries were attending the service when the explosion went off. Wednesday marked the 102nd anniversary of the armistice ending World War I, which is commemorated in many European countries.
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In the attacks that were carried out from November 6 to November 8, many villagers were beheaded and chopped to pieces. More than 400,000 others have been displaced by the conflict and sought refuge in nearby towns and cities.
Four Seasons Total Landscaping explained
In a since-deleted tweet , Mr Trump had said there would be a "big press conference" at the "Four Seasons" on Saturday morning. The small business is now selling merchandise, including a sticker playing on Trump's campaign slogans.