SoftBank

Telco SoftBank first-quarter profit rises 4%, buoyed by enterprise and internet businesses

TOKYO (Reuters) – Japanese wireless carrier SoftBank Corp on Tuesday reported a 4% rise in first-quarter operating profit, beating analyst estimates, supported by its enterprise and internet businesses.

FILE PHOTO: A woman using a mobile phone walks past the logo of SoftBank Corp in Tokyo May 11, 2015. REUTERS/Toru Hanai/File Photo

April-June profit reached 280 billion yen ($2.6 billion). That compared with the 262 billion yen average of two analyst estimates compiled by Refinitiv.

A fall in profit at its consumer business was offset by growth in enterprise as it benefits from growing demand for teleworking services amid the coronavirus outbreak.

SoftBank is making a major push into online retailing through companies it controls. Z Holdings Corp last week said operating profit from e-commerce topped its media business for the first time and online fashion retailer Zozo Inc reported a big profit jump as shoppers shift online.

Parent SoftBank Group

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SoftBank to maintain stake in Arm after partial sale: Nikkei

(Reuters) – SoftBank Group Corp (9984.T) will keep a stake in its chip company Arm Holdings Ltd, even if it sells part of it to Nvidia Corp (NVDA.O) or through an initial public offering, the Nikkei Asian Review reported here

FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo

The Japanese conglomerate is currently negotiating terms with Nvidia after receiving an approach last month, the report said, citing an unidentified source familiar with the matter, adding that it is possible that SoftBank would take stake in Nvidia after it bought Arm.

The report did not mention how much stake the company will retain in Arm.

SoftBank did not respond to a Reuters request for comment.

The Wall Street Journal reported last month that SoftBank was exploring options including a full or

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SoftBank advances share buyback with approval of $9.6 billion tranche

TOKYO (Reuters) – SoftBank Group said on Friday it has approved a 1 trillion yen ($9.6 billion) share repurchase, the final tranche of a record 2.5 trillion buyback that has helped propel its share price to two decade highs.

FILE PHOTO: Japan’s SoftBank Group Corp Chief Executive Masayoshi Son attends a news conference in Tokyo, Japan, Nov. 5, 2018. REUTERS/Kim Kyung-Hoon/File Photo

The Japanese conglomerate unveiled in March a 4.5 trillion yen plan to buy back shares and reduce debt. It has so far approved buybacks of two tranches of 500 billion yen each. In addition it announced a 500 billion yen buyback in March.

SoftBank said in a statement the 4.5 trillion yen programme had intended to be executed over four quarters from the time of the original announcement, but that it was possible the repurchase may not be completed until April 2021 or later.

Under the plan the

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Amazon, SoftBank held talks over Russian online retailer Ozon, shareholder says

FILE PHOTO: The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, April 22, 2020 . REUTERS/Pascal Rossignol/File Photo

MOSCOW (Reuters) – Global retail giant Amazon (AMZN.O) and Japanese SoftBank (9984.T) have made approaches to Russian conglomerate Sistema (AFKS.MM) about a possible acquisition of its online retailer Ozon, Sistema’s majority owner Vladimir Evtushenkov said on Saturday.

It’s not immediately clear if talks are still under way or have ended. Sistema has said it was looking for partners to invest in Ozon, in which it holds a more than 40%.

“The interest to Ozon among foreign investors is very high,” Evtushenkov told reporters after Sistema’s annual general meeting.

“I can tell you that this is the only one company in Russia at which Amazon was looking from the participation point of view,” he said, adding that SoftBank was also interested

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