|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||4.8900 - 4.8900|
|52 Week Range||3.1800 - 7.4800|
|Beta (5Y Monthly)||0.96|
|PE Ratio (TTM)||34.44|
|Forward Dividend & Yield||0.05 (1.03%)|
|Ex-Dividend Date||Mar 30, 2021|
|1y Target Est||N/A|
(Bloomberg) -- SofBank Group Corp.’s telecom arm, which on Monday completed the merger of its Japanese internet business with messaging service owner Line Corp., plans to combine the payment apps of those two entities.The company will fold Line Pay into PayPay, backed by SoftBank Corp., its Yahoo Japan unit and India’s Paytm, in April 2022 provided it secures all the relevant regulatory approvals, according to a joint statement from the two payment operators. SoftBank had kept mum on the possibility of a payments merger, saying only it aimed to extract synergies from the overlapping businesses.Under a complex transaction that takes effect on Monday, SoftBank Corp. and Line’s parent Naver Corp. each own half of a newly created A Holdings Corp. That company in turn controls 65.3% of publicly traded Z Holdings Corp., taking SoftBank’s Yahoo Japan and Line’s operations under its umbrella. The deal was targeted for completion by October but got delayed by pandemic-induced market disruptions. It’s also come under attack from overseas hedge funds that said the tender offer price was too low.The name is designed to symbolize everything as in “from A to Z,” reminiscent of Amazon.com Inc.’s motto, SoftBank has said. The letters also signify its focus on artificial intelligence and plans to expand in Asia.PayPay had 36 million users in Japan as of the end of February, while Line Pay had about 39 million. The merger gives PayPay access to over 80 million Japanese users on Line’s messaging service. The former rivals are already combining their respective businesses and Line Pay users will be able to make payments at PayPay locations where QR codes payments are accepted starting second half of April.Masayoshi Son, the SoftBank founder who backs some of the world’s largest startups, engineered the deal to create a Japanese tech champion that can compete with global rivals like Google, Amazon and Tencent Holdings Ltd. The combined company aims to spend 100 billion yen ($939 million) annually on development of AI-powered products.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- SoftBank Group Corp.’s telecom unit raised its full-year profit and sales targets after the pandemic boosted demand for its remote-work services.SoftBank Corp. forecast operating income in the year ending March will climb to 970 billion yen ($9.2 billion), 5.4% higher than its earlier target, according to a statement on Thursday. That’s more than the 946.3 billion yen average of analyst estimates. The Tokyo-based company raised its revenue goal 4.1% to 5.1 trillion yen.Profits in the mobile business, which has long been the cornerstone of Masayoshi Son’s technology conglomerate, have come under pressure after Rakuten Inc. launched a wireless network and sparked a price war. SoftBank Corp. is seeking to reduce its reliance on telecoms and transform itself into a digital services company by combining its Yahoo Japan internet business with messaging giant Line Corp.SoftBank Corp. is also undergoing a change of leadership. Chief Executive Officer Ken Miyauchi is moving into the chairman’s role, currently held by Son, while Chief Technology Officer Junichi Miyakawa takes over as CEO.Operating income in the quarter ended Dec. 31 rose 3.6% to 252 billion yen, and revenue jumped 11% to 1.38 trillion yen.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Masayoshi Son is stepping down as chairman of SoftBank Corp., completing a transition of leadership at the domestic telecommunication unit that had been at the center of his technology empire.Ken Miyauchi, who has been chief executive officer, will move into the chairman’s role in Son’s place, while Junichi Miyakawa takes over as CEO, the company said in a statement. Son spun the wireless business out of his SoftBank Group Corp. in 2018 and has sold his stake down to about 40%, according to data compiled by Bloomberg.Telecom services had long been the cornerstone of Son’s conglomerate, but he has been shifting his attention to financial investments. His $100 billion Vision Fund has taken stakes in scores of startups, with many going public in the surging stock market.Miyauchi joined SoftBank in 1984, just three years after it was created. One of Son’s longest-serving lieutenants, he helped the founder grow the business from a distributor of personal computer software into a telecommunications conglomerate.Miyauchi, 71, took charge of the domestic operations when the unit went public and helped engineer the merger of SoftBank’s Yahoo Japan internet business with messaging giant Line Corp.Miyakawa joined the SoftBank group in 2003 and has since served in a number of technical positions at its broadband operation, the Japan wireless operation and Sprint Corp. The 55-year-old most recently held the role of chief technology officer at SoftBank Corp.SoftBank Corp. shares have gained about 4% this year and closed little changed Tuesday.(Updates with Miyakawa’s background in penultimate paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.