Softbank Group 4% Call 19.09.2029 ISIN XS1684385591

BORSA TOKYO-Nikkei in ribasso su deboli guadagni di tech, cala Nintendo
Oggi 07:58 - RSF
TOKYO, 8 febbraio (Reuters) - L'indice Nikkei ha chiuso in ribasso, tra vendite consistenti dei grandi nomi del settore tecnologico, tra cui Nintendo e SoftBank, dopo risultati societari deludenti, annullando il fattore positivo dato dal rally di Wall Street.

** La società di investimento e tecnologia SOFTBANK ha lasciato sul terreno il 5,1% dopo aver registrato una perdita trimestrale, mentre il produttore di videogiochi NINTENDO è crollato del 7,5% dopo aver ridotto le previsioni sugli utili.

** Il Nikkei

** Il più ampio Topix

(Tradotto da Chiara Scarciglia, editing Francesca Piscioneri)
(([email protected]))
 
BREAKINGVIEWS-SoftBank is paying for Son’s past exuberance
07/02/2023 13:25 - RSF
(The author is a Reuters Breakingviews columnist. The opinions expressed are their own.)
LONDON, Feb 7 (Reuters Breakingviews) - Warren Buffett once advised investors to be fearful when others are greedy and greedy when others are fearful. SoftBank Group's boss Masayoshi Son is doing the exact opposite. The Japanese technology investor’s results on Tuesday showed that its flagship Vision Funds only invested about $350 million in startups in the three months to the end of December, compared with $9.6 billion in the same period a year earlier. In other words, Son and his dealmakers spent big when valuations were unsustainably high and then retreated as prices slumped.

It’s not a great way to make money. SoftBank’s family of startup-investing vehicles, including the two Vision Funds and a Latin America-focused one, have clocked up $6.6 billion of cumulative losses on their investments since 2017. Son, who has also stopped leading the company’s earnings calls, seems to be chastened by all the red ink. Another explanation for his slower pace of dealmaking is that he simply can’t do more. As of December 2022, the second Vision Fund had already drawn over 90% of its committed capital. In other words, Son is out of ammunition just when it would be the most useful. He has no one to blame but himself. (By Karen Kwok)
Follow @Breakingviews on Twitter
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Scusate, non seguo piu' da un bel po di tempo, mi ricordo che con Bink si evitava la doppia tassazione USA ITALIA grazie alla convenzione olandese sulla doppia tassazione, con SAXO GENERALI immagino che abbiamo la doppia tassazione e quindi se va quasi il 40 per cento in tasse, corretto? quindi che senso ha investire in Preferred come rendita?
 
EXCLUSIVE-SoftBank's Arm China lays off workers as outlook grim -sources
12/02/2023 03:22 - RSF
(Adds statement from Arm Ltd in paragraph 5)
By Jane Lanhee Lee, Josh Horwitz and Stephen Nellis
OAKLAND, Calif/SHANGHAI Feb 12 (Reuters) - SoftBank Group Corp's chip technology firm Arm Ltd's China joint venture laid off 90-95 employees last week to cope with a challenging business outlook this year, according to two sources familiar with the situation.

The layoffs come as SoftBank tries to set up a public listing for Arm this year. The China market has been a major source of growth, although a two-year management dispute at the joint venture that resulted in the ousting of the former CEO created some challenges.

The sources said those who lost their jobs were mostly engineers in research and development. Before the layoffs, Arm China had about 700 employees; there were no layoffs last year when parent Arm Ltd had global layoffs affecting up to 15% of its workforce, according to one of the sources.

Arm China declined to comment.

Arm Ltd said in a statement that “Arm China is a separate company from Arm Ltd, and while we cannot comment on its personnel decisions, we do not expect any disruption to our business in China which continues to remain strong.”
Last year's layoffs came after Nvidia Corp (NVDA.O) failed to take over Arm because of regulatory hurdles. The collapse of the sale marked a major setback for SoftBank's efforts to generate funds when valuations across its portfolio are under pressure.

Arm China is the exclusive distributor of Arm licenses in China. It collects payments, and sends them to Arm Ltd, which delivers the technology directly to customers.

One of the sources said some customers are concerned about Arm potentially changing how it charges royalties, as well as U.S.-China geopolitical tensions that could cut off access to Arm technology.

Chinese companies, including Huawei Group and Alibaba, have been restricted from using some of Arm's technology in recent years.

(Reporting By Jane Lanhee Lee in Oakland, Calif, Josh Horwitz in Shanghai and Stephen Nellis; Editing by Gerry Doyle and William Mallard)
(([email protected]; +1-415-344-3912; Reuters Messaging: [email protected]))
 
UPDATE 1-Uber to introduce EVs in India in push to clean cars
20/02/2023 13:21 - RSF
(Recasts with executive comments, details)
By Aditi Shah
NEW DELHI, Feb 20 (Reuters) - Uber Technologies (UBER.N) said on Monday it will introduce electric vehicles (EVs) in India for ride-sharing, its first move to adopt clean cars amid an Indian government push for greater electrification of public transport and shared mobility.

With plans to introduce 25,000 EVs over three years, Uber is stepping up competition with local rival BluSmart, an electric mobility start-up backed by BP's venture fund, which has taken the lead in India's electric taxi space.

Uber's fleet partners will buy the EVs from Tata Motors , India's biggest electric carmaker, Prabhjeet Singh, president, Uber India and South Asia, said during a phone interview on Monday.

"When you're looking at great transitions, you also don't want to rush into those without necessarily fully appreciating the economics and trade-offs," Singh told Reuters.

Tata Motors also sells EVs to BluSmart.

For electric ride-hailing to take off, Singh said multiple factors need to come together. Automakers need to build affordable vehicles with a long range, the financing ecosystem needs to mature and charging infrastructure has to be widespread.

"We believe we are beginning to see early signs of that coming together," Singh said, adding that this is the largest deal for EVs by a ride-sharing company.

Even with 25,000 EVs, electric cars will still be a fraction of Uber's current overall active fleet of 300,000 vehicles in India, according to Singh.

Uber has set a 2040 target for 100% of its rides to be in zero-emission vehicles, public transport or with micro-mobility, including in India.

The Softbank Group-backed ride-hailing giant is in "active" talks with other carmakers, charging companies, fleet operators and financiers for its EV push, Singh added.

Tata rival Mahindra & Mahindra is the only other Indian automaker to build electric cars locally. China's BYD and SAIC's MG Motor also sell imported EVs in India.

"We are going to be a big catalyst in accelerating the (EV) ecosystem," Singh said.

(Reporting by Aditi Shah; Editing by Kirsten Donovan and Susan Fenton)
(([email protected]; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))
 
BORSA TOKYO-Nikkei scivola su timori Fed 'hawkish'
Oggi 08:11 - RSF
TOKYO, 27 febbraio (Reuters) - Alla borsa di Tokyo il Nikkei chiude la seduta in ribasso sulla scia di Wall Street, con gli investitori che si preparano a uno scenario di tassi di interesse statunitensi più alti per un periodo più lungo dopo una serie di dati economici positivi.

** L'indice è arrivato a perdere lo 0,59% prima di riguadagnare un po' di terreno e chiudere in ribasso dello 0,11% a 27.423,96 punti. In questo modo si è mantenuto vicino alla metà del trading range dell'ultimo mese.

** Il settore tecnologico è stato tra i più colpiti, data la sua sensibilità all'aumento dei tassi di interesse. TOKYO ELECTRON e SOFTBANK GROUP hanno perso rispettivamente l'1,88% e il 2,25%.

** Il più ampio Topix

** A breve termine, "è difficile pensare che si verifichino sviluppi tali da spingere il Nikkei a riguadagnare quota 28.000", ha detto Maki Sawada di Nomura Securities, che si aspetta che questa settimana l'indice si mantenga nel suo recente range intorno a 27.500.

** Allo stesso tempo, "a meno che non ci siano novità, non sembra che il mercato possa scendere drasticamente da qui", ha aggiunto.



(Tradotto da Luca Fratangelo, editing Sabina Suzzi )
(([email protected], +48587696613))
 
UPDATE 2-SoftBank, Ant seek to sell Paytm stake via open market - ET
Oggi 09:24 - RSF
(Adds share movement, background)
Feb 27 (Reuters) - China's Ant Group and Japan's SoftBank Group Corp are seeking to sell their stakes in Indian digital payments firm Paytm in the open market, the Economic Times reported on Monday.

The companies had earlier approached Bharti Airtel founder-chairman Sunil Mittal to sell their stakes in Paytm's parent One 97 Communications, but those talks did not make much headway, ET
reported
, citing people familiar with the matter.


SoftBank, Ant Group, Paytm and Bharti Airtel did not immediately respond to Reuters' request for comments.


A secondary sale to financial investors in the open market through a block deal is, however, still a possibility, the Economic Times reported.


Ant has a nearly 25% stake in Paytm, while SoftBank owns about 13%, according to exchange data.

Paytm has been under pressure to turn profitable ever since its dismal listing in late 2021.

Its shares have tumbled about 70% below their IPO price of 2,150 rupees as lofty valuations of loss-making tech firms come under scrutiny amid volatility in the financial markets.

China's Alibaba Group earlier this month exited Paytm by selling its remaining stake in the company for about 13.78 billion rupees ($166.20 million). SoftBank had also previously sold a 4.5% stake in Paytm through block deals for about $200 million.

Paytm's shares rose 1.5% to 632.90 rupees as of 1:47 p.m.

IST.

($1 = 82.8750 Indian rupees)

(Reporting by Mrinmay Dey and Manas Mishra in Bengaluru; Editing by Rashmi Aich, Nivedita Bhattacharjee)
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UPDATE 3-WeWork reaches deals to cut debt, extend maturities
17/03/2023 16:46 - RSF
(Adds details)
March 17 (Reuters) - WeWork Inc (WE.N) said on Friday it had struck deals to cut debt by about $1.5 billion and extend the date of some maturities, in a bid to preserve cash as the flexible-workspace provider feels the heat of mass layoffs on its business.

The company, which offers workstations, private offices and customized floors, had enjoyed a pandemic-driven shift to flexible work outside traditional offices, but is now gearing up for a potential fallout from a likely economic downturn.

WeWork said it will also infuse the company with about $540 million in new funding.

Last month, the company forecast weak current-quarter revenue, after having announced moves to cut 300 jobs and exit 40 underperforming U.S. locations in a move aimed at curbing its real-estate footprint.

Under the deals announced Friday, key investor SoftBank Group Corp's $1.0 billion unsecured notes would be converted to equity. The Japanese company held a stake of about 46% in WeWork before the restructuring was announced, as per Refinitiv data.

About $1.9 billion of pro-forma debt will now mature in 2027, WeWork said, adding that it would have less than $2.0 billion in net debt once the deal closes.

The agreements also cover an ad-hoc group which represent over 60% of the company's public bonds and a third-party investor, WeWork said. The group includes King Street Capital Management L.P. and BlackRock Inc .

WeWork, which went public in 2021 after a two-year struggle, is yet to post a quarterly profit. But the company said on Friday it expects to turn a core profit this year, helped by cost cuts.

PJT Partners LP advised WeWork on the debt restructuring, while Houlihan Lokey advised SoftBank.

(Reporting by Priyamvada C and Kannaki Deka; Editing by Shailesh Kuber)
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UPDATE 2-Softbank-owned Arm seeks to raise prices ahead of U.S. IPO - FT
Oggi 10:08 - RSF
(Adds Arm's comment)
March 23 (Reuters) - Arm Ltd, owned by Japan's SoftBank Group Corp , is seeking to raise prices for its chip designs, as it aims to boost revenue ahead of an initial public offering in New York, the Financial Times reported on Thursday.

The British chip designer recently notified several of its customers of a "significant shift" to its business model, the newspaper said, citing several industry executives and former employees.

Arm intends to alter its royalty program, ceasing to charge chipmakers royalties for using its designs based on a chip's value, and instead charge device makers based on the value of the device, the report said.

As a result of this change, Arm anticipates generating multiple times more revenue for each design it sells, since the value of an average smartphone far exceeds that of a single chip.

"Arm is going to customers and saying 'We would like to get paid more money for broadly the same thing',” a former senior employee who left the company last year told FT.

MediaTek Inc , Unisoc, Qualcomm Inc and multiple Chinese smartphone makers, including Xiaomi Corp and Oppo, are among the companies that have been made aware of the proposed changes to pricing policy, the report added.

Arm declined to comment on the report when contacted by Reuters.

The company is likely to aim to raise at least $8 billion from what is expected to be a blockbuster U.S. stock market launch this year, sources told Reuters earlier this month.

(Reporting by Baranjot Kaur and Shubhendu Deshmukh in Bengaluru; Editing by Sonia Cheema and Varun H K)
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