Softbank!!! Wo geht die Reise kurz- und langfristig hin? Ist der Weg nach oben jetzt geebnet?? - 500 Beiträge pro Seite
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Werte aus der Branche Internet
Wertpapier | Kurs | Perf. % |
---|---|---|
8,8250 | +297,52 | |
8,6800 | +41,14 | |
0,6370 | +13,95 | |
3,8600 | +10,92 | |
12,550 | +10,09 |
Wertpapier | Kurs | Perf. % |
---|---|---|
1,5400 | -4,35 | |
351,70 | -5,00 | |
1,8900 | -5,03 | |
2,0500 | -5,53 | |
1,1550 | -9,41 |
!
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nicht nur lesen!!!! meinungen brauch ich!!!!
Es gibt keine fairen Bewertungen an der Börse!!
Entweder wird über oder untertrieben. Softbank wird in ein paar Monaten schon alle bisher für möglichgehaltenen Kurse übertrumpfen,warum? --> Never change a winning team, aber vielleicht sollte man sich trotzdem auchnoch in Jafco positionieren, da die zumindest was das Beteiligungsportfeuille angeht sich vor Softbank nicht zu verstecken brauchen,eher noch ne menge Nachholpotential haben.
Gruss CB
Entweder wird über oder untertrieben. Softbank wird in ein paar Monaten schon alle bisher für möglichgehaltenen Kurse übertrumpfen,warum? --> Never change a winning team, aber vielleicht sollte man sich trotzdem auchnoch in Jafco positionieren, da die zumindest was das Beteiligungsportfeuille angeht sich vor Softbank nicht zu verstecken brauchen,eher noch ne menge Nachholpotential haben.
Gruss CB
Ich hoffe, die Empfehlung im "Aktionär" bewahrheitet sich und das KZ von 1.800 E wird erreicht; bin nämlich auch mit 25 Stück zu 600 E dabei.
Gruß,
Kyalami
Gruß,
Kyalami
Kurzfristig dürfte SB sehr volatil sein. Das stört nicht den Investor
sondern evtl nur den Trader oder Zocker, wenns falch läuft.
Langfristig gehts nach Norden, da haben auch diejenigen noch
Freude dran, die zum Höchstkurs eingestiegen sind.
sondern evtl nur den Trader oder Zocker, wenns falch läuft.
Langfristig gehts nach Norden, da haben auch diejenigen noch
Freude dran, die zum Höchstkurs eingestiegen sind.
Softbank wird, denke ich, Bode finden zwischen 500-700,
auf lange Sicht aber steigen. Leider weiß niemand, wann.
auf lange Sicht aber steigen. Leider weiß niemand, wann.
Da ich schon seit ueber einem Jahr dabei bin und mich eigentlich ueber Gewinne nicht beklagen kann, werde ich mich der Nabelschau, "wer wieviele wann gekauft hat", nicht anschliessen.
Meine Meinung ist folgende: was Internet anbetrifft hat Japan/Asien noch reichlich Potenzial. JPN hat mit die geringste Dichte an I-Net Anschluessen auf der Welt.
Potenzial besteht erst mal m.E. darin, dass Jpn sich auf ein durschnittliches Niveau annaehert. Das die Japaner eine technisch verspieltes Volk weiss ja wohl auch jeder. Steht erst mal die Infrastruktur kann deren ethnische Vorliebe als Multiplikator fungieren.
Was mich allerdings bei Sft beunruhigt, ist das der Gewinn staendig sinkt vgl. Detailblock Boerse online. Ich bleibe drin und werde bei Kursen um 770 wieder zu kaufen.
Gruesslis,
EF
Meine Meinung ist folgende: was Internet anbetrifft hat Japan/Asien noch reichlich Potenzial. JPN hat mit die geringste Dichte an I-Net Anschluessen auf der Welt.
Potenzial besteht erst mal m.E. darin, dass Jpn sich auf ein durschnittliches Niveau annaehert. Das die Japaner eine technisch verspieltes Volk weiss ja wohl auch jeder. Steht erst mal die Infrastruktur kann deren ethnische Vorliebe als Multiplikator fungieren.
Was mich allerdings bei Sft beunruhigt, ist das der Gewinn staendig sinkt vgl. Detailblock Boerse online. Ich bleibe drin und werde bei Kursen um 770 wieder zu kaufen.
Gruesslis,
EF
Wir haben in unserem Investmentclub am Wochende entschieden einzsteigen und haben sb bei 800€ erwischt.
15 (börsenerfahrene) leute waren von dem einstieg überzeugt.
15 (börsenerfahrene) leute waren von dem einstieg überzeugt.
die reinste panikmache zur zeit! die gewinne werden sich gut entwickeln, aber halt langfristig!!!
bei softbank hab ich zwischen 800 und 1000 euro gekauft und habe eine anlagehorizont von 2-3 jahren!!!
bei softbank hab ich zwischen 800 und 1000 euro gekauft und habe eine anlagehorizont von 2-3 jahren!!!
Wie ein Sprecher von Softbank Corp.mitteilte,werde das Geschäftsjahr
1999 höherere Gewinne zeigen als erwartet.Hatte man einen Reingewinn
von umgerechnet rund 119 Euro erwartet,so prognostiziert man seit
dem Verkauf von Anteilen an Softbank Technologie Corp.und Pasona
Softbank einen Reingewinn von 500 Mio.Euro.
Der Verkauf von über 6 Prozent seiner Prozentanteile an Softbank Tech.
brachte rund 292 Euro.
Die Erwartung beim Vorsteuergewinn wurden jedoch herabgesetzt.
Bisher hatte man 124 Mio.Euro erwartet,nun werden es nur knapp 100 Mio.
Das Unternehmen hat über den Japan Softbank Fund zusammen mit DEll
und Draper Fischer in Techpacific.com investiert,ein Unternehmen,das
am Gem in Hong Kong am 17 April zum ersten Mal notiert.
Hört sich doch im grossen ganzem gut an.Softbank wird sich im allgemein
schwachen Umfeld wahrscheinlich noch eine Zeitlang seitwärts bewegen,
langfristig absolut neue Höhen bis Ende 2000 sehen.
Also keine Panik,das hat Softbank schon öfters durchgemacht.Ist auch
völlig normal.
1999 höherere Gewinne zeigen als erwartet.Hatte man einen Reingewinn
von umgerechnet rund 119 Euro erwartet,so prognostiziert man seit
dem Verkauf von Anteilen an Softbank Technologie Corp.und Pasona
Softbank einen Reingewinn von 500 Mio.Euro.
Der Verkauf von über 6 Prozent seiner Prozentanteile an Softbank Tech.
brachte rund 292 Euro.
Die Erwartung beim Vorsteuergewinn wurden jedoch herabgesetzt.
Bisher hatte man 124 Mio.Euro erwartet,nun werden es nur knapp 100 Mio.
Das Unternehmen hat über den Japan Softbank Fund zusammen mit DEll
und Draper Fischer in Techpacific.com investiert,ein Unternehmen,das
am Gem in Hong Kong am 17 April zum ersten Mal notiert.
Hört sich doch im grossen ganzem gut an.Softbank wird sich im allgemein
schwachen Umfeld wahrscheinlich noch eine Zeitlang seitwärts bewegen,
langfristig absolut neue Höhen bis Ende 2000 sehen.
Also keine Panik,das hat Softbank schon öfters durchgemacht.Ist auch
völlig normal.
SORRY,QUELLE DIESER AUSSAGE IST mail@wallstreet-online.de
In USA heute nacht 720 $
In D heute 730 ... 750 €
RAUUUUUUUUUUUUUUUUS !!!!
Bin gestern schon zu 816 € mit 100 € Verlust raus,
war wohl richtig !
In D heute 730 ... 750 €
RAUUUUUUUUUUUUUUUUS !!!!
Bin gestern schon zu 816 € mit 100 € Verlust raus,
war wohl richtig !
langfristig ist dein entscheidung falsch. softbank muß immer aufgestockt werden, bei diesen kursen wieder ein paar zukaufen!!!!
Seit wann soll Softbank denn in USA gehandelt werden???!!!
morgen gibts schnäppchenkurse. ich geb ein kauflimit von 620 euro rein!!!! dann freu ich mich auf die nächste zeit!!!! bei 400 WÜRDE ich dann nochmal kaufen und dann beten!!!!
hallo leute,
warum kauft ihr eigentlich alle die Aktie ????
es gibt doch auch gut bewertete optionsscheine die bis mitte 2001
laufen.
Bei eurem Optimismus verspricht das doch mehr erfolg.
ich habe jedenfalls OS gekauft.
oder habe ich einen Fehler gemacht ???
buko
warum kauft ihr eigentlich alle die Aktie ????
es gibt doch auch gut bewertete optionsscheine die bis mitte 2001
laufen.
Bei eurem Optimismus verspricht das doch mehr erfolg.
ich habe jedenfalls OS gekauft.
oder habe ich einen Fehler gemacht ???
buko
Hi hier Gay
hallo buko
den gleichen Gedanken hatte ich auch.
Aber ich habe keinen vernünftigen
gefunden.
Welchen hast du denn?
Gruß vom Gay
hallo buko
den gleichen Gedanken hatte ich auch.
Aber ich habe keinen vernünftigen
gefunden.
Welchen hast du denn?
Gruß vom Gay
Solange fast alle von euch glauben, es sei nur eine Frage der (kurzen) Zeit, wann Softbank seine alten Höhen wieder erreicht, so lange werden sie fallen! Erst wenn fast alle davon überzeugt sind, jetzt aber doch raus zu müssen, kommt die Chance. Und das kann noch lange dauern!
Das sehe ich genauso , Marlene.
Ich bin bei 755 raus und gehe erst wieder rein wenn es wirklich
wieder steigt.
Ich bin bei 755 raus und gehe erst wieder rein wenn es wirklich
wieder steigt.
heute wieder ein dickes minus in tokio (-5,75%)
wenigstens nicht mehr limit down, einige käufer haben sich schon wieder eingefunden
ist ein boden in sicht?
buko, die os sind durch die hohen impliziten volas teuer, steigt SB wieder langsam an oder geht mal seitwärts/aufwärts nimmt die vola ab und der scheint gewinnt kaum an wert oder verliert sogar!
neumax
wenigstens nicht mehr limit down, einige käufer haben sich schon wieder eingefunden
ist ein boden in sicht?
buko, die os sind durch die hohen impliziten volas teuer, steigt SB wieder langsam an oder geht mal seitwärts/aufwärts nimmt die vola ab und der scheint gewinnt kaum an wert oder verliert sogar!
neumax
war nix mit boden
wieder limit down
kein kaufinteresse
nur verkäufer
-minus 6,54% :O
liegt wohl auch an der enttäuschung über die yahoo ergebnisse
wenn das flagschiff schon nicht zieht wer soll den karren dann aus dem dreck ziehen?
wieder limit down
kein kaufinteresse
nur verkäufer
-minus 6,54% :O
liegt wohl auch an der enttäuschung über die yahoo ergebnisse
wenn das flagschiff schon nicht zieht wer soll den karren dann aus dem dreck ziehen?
73000yen ist doch nicht "limit-down", oder??
76500 - 5000 wären 71500 (??)
und von welchen enttäuschenden yahoo-zahlen ist da die rede, die waren doch prima.
76500 - 5000 wären 71500 (??)
und von welchen enttäuschenden yahoo-zahlen ist da die rede, die waren doch prima.
immerhin ist Softbank aufgewacht. ein zwischenzeitliches hoch bei 81200 yen nach vorherigen limit down bei 71500 spricht dafür. aber die konstanz fehlt. aber es riecht nach bodenbildung zwischen 650 und 800 euro!!!
der 200-tage-durchschnitt in tokio steigt (noch) mit etwa 200 yen.
er steht heute bei 66449 yen - also am montag bei knapp unter 67000.
der sollte halten. (oder muss!)
er steht heute bei 66449 yen - also am montag bei knapp unter 67000.
der sollte halten. (oder muss!)
Wieso steigt SB in Deutschland? Habe ich was verpaßt? Sind sie in Japan heute nicht gefallen???
ist jetzt der ofen aus??????
nach angeblich 500 mio $ gewinn jetzt 500 mio $ verlust???
was soll ich machen????
nach angeblich 500 mio $ gewinn jetzt 500 mio $ verlust???
was soll ich machen????
softbank dreht plötzlich. 35 yen in 25 minuten!!!!! gabs jetzt neue news??
Wo kann man eigentlich die Yen-Kurse sehen??????
von Redaktion WO, 06.04.00 15:27:49
betrifft Aktie: SOFTBANK CORP.YN 50 763108
Die Softbank Gruppe hat Prognosen für das Geschäftsjahr 99 (Ende war am 31.März) abgegeben. Demnach soll der
Reingewinn der Softbank Gruppe bei 3,5 Mrd. Yen (rund 34 Mio. Euro) liegen ein Jahr zuvor waren es noch 37,5 Mrd. Yen. Der
Vorsteuerverlust soll sich auf 55 Mrd. Yen (rund 544 Mio. Euro) belaufen. Ein Jahr zuvor waren es noch 15,4 Mrd. Yen
Vorsteuerverlust. Die Einnahmen belaufen sich auf 420 Mrd. Yen (etwa 4,1 Mrd. Euro), 1998 waren es 528 Mrd.[/] Yen. Der
Gewinn aus dem operativen Geschäft beläuft sich auf 7 Mrd. Yen (ungefähr 69 Mio. Euro) gegenüber mehr als 12 Mrd. Yen im
Vorjahr.
Kapitalerträge in Höhe von 208 Mrd. Yen ergaben sich aus dem Verkauf von Anteilen an Trend Micro und Softbank
Technology. Die Erträge werden zum Ausgleich der Verluste bei der Veräußerung von Ziff Davis und Kingston Technology
eingesetzt. Diese sollen sich auf rund 197 Mrd. Yen belaufen.
Und das soll in den Kursen schon enthalten sein? Glaube ich nicht, denn wirklich alles ist extrem rückläufig, bis auf die Verluste
PS: Die Nachricht kam nach Tokyoter Börsenschluß heraus.
betrifft Aktie: SOFTBANK CORP.YN 50 763108
Die Softbank Gruppe hat Prognosen für das Geschäftsjahr 99 (Ende war am 31.März) abgegeben. Demnach soll der
Reingewinn der Softbank Gruppe bei 3,5 Mrd. Yen (rund 34 Mio. Euro) liegen ein Jahr zuvor waren es noch 37,5 Mrd. Yen. Der
Vorsteuerverlust soll sich auf 55 Mrd. Yen (rund 544 Mio. Euro) belaufen. Ein Jahr zuvor waren es noch 15,4 Mrd. Yen
Vorsteuerverlust. Die Einnahmen belaufen sich auf 420 Mrd. Yen (etwa 4,1 Mrd. Euro), 1998 waren es 528 Mrd.[/] Yen. Der
Gewinn aus dem operativen Geschäft beläuft sich auf 7 Mrd. Yen (ungefähr 69 Mio. Euro) gegenüber mehr als 12 Mrd. Yen im
Vorjahr.
Kapitalerträge in Höhe von 208 Mrd. Yen ergaben sich aus dem Verkauf von Anteilen an Trend Micro und Softbank
Technology. Die Erträge werden zum Ausgleich der Verluste bei der Veräußerung von Ziff Davis und Kingston Technology
eingesetzt. Diese sollen sich auf rund 197 Mrd. Yen belaufen.
Und das soll in den Kursen schon enthalten sein? Glaube ich nicht, denn wirklich alles ist extrem rückläufig, bis auf die Verluste
PS: Die Nachricht kam nach Tokyoter Börsenschluß heraus.
nach dieser meldung habe ich den gesamten bestand an softbank aufgelöst
http://biz.yahoo.com/rf/000406/ja.html
http://biz.yahoo.com/rf/000406/ja.html
nabend
ja am ende des börsentages in tokio gings wieder etwas aufwärts
zwischendurch wars 2* limit down
die zahlen vom yahoo! lagen unterhalb der flüsterschätzungen
und 80% der unrealsierten gewinne von SB stecken in yahoo!
wenn man sich die sache mal genau ansieht, ist yahoo der EINZIGE brüller
sonst wurden überwiegend flopps produziert
einige gute beteiligungen gibts noch (siehe thread von strick)
eine der beste wurde um geld in die trockene kasse ui spülen verkauft.
(trend mirco)
in finanzkreisen wird von einem ernsthaften cash problem gesprochen
softbank put: 746392
Neumax
ja am ende des börsentages in tokio gings wieder etwas aufwärts
zwischendurch wars 2* limit down
die zahlen vom yahoo! lagen unterhalb der flüsterschätzungen
und 80% der unrealsierten gewinne von SB stecken in yahoo!
wenn man sich die sache mal genau ansieht, ist yahoo der EINZIGE brüller
sonst wurden überwiegend flopps produziert
einige gute beteiligungen gibts noch (siehe thread von strick)
eine der beste wurde um geld in die trockene kasse ui spülen verkauft.
(trend mirco)
in finanzkreisen wird von einem ernsthaften cash problem gesprochen
softbank put: 746392
Neumax
ihr seid nicht locker. die reaktion war doch gut in japan. also der boden scheint gefunden. käufe sollten jetzt schon getätigt werden, aber noch cash behalten!!
Hallo, Neumax!
Danke für den Softbank Put, aber ich habe mein Geld dann lieber doch
gestern noch in Jafco investiert.
Ich muss zugeben, auch ich wurde nervös, als ich gestern zeitweise
unter 1000 % (Buch-)Gewinn rutschte! . (Einstieg übrigens am 29.01.99
nach Tip in BO (!!!))
Also wirklich - diejenigen, die sich mit neuen Wahnsinnszahlen monate-
lang überschlagen haben, (das Kursziel von Lehman Brothers 400 000 Yen
ist übrigens genau eine Woche alt!) hauen jetzt teilweise richtig drauf.
Und was die Sache mit den Verlusten bei allem außer Yahoo angeht (ich
habe den Artikel auch gelesen) - bullshit ! (Richtig ist, dass einige
wie Vertical Net vorübergehend abgestürzt sind - aber wer ist das
eigentlich in diesen Tagen nicht? Daher mein Fazit: usw.
Danke für den Softbank Put, aber ich habe mein Geld dann lieber doch
gestern noch in Jafco investiert.
Ich muss zugeben, auch ich wurde nervös, als ich gestern zeitweise
unter 1000 % (Buch-)Gewinn rutschte! . (Einstieg übrigens am 29.01.99
nach Tip in BO (!!!))
Also wirklich - diejenigen, die sich mit neuen Wahnsinnszahlen monate-
lang überschlagen haben, (das Kursziel von Lehman Brothers 400 000 Yen
ist übrigens genau eine Woche alt!) hauen jetzt teilweise richtig drauf.
Und was die Sache mit den Verlusten bei allem außer Yahoo angeht (ich
habe den Artikel auch gelesen) - bullshit ! (Richtig ist, dass einige
wie Vertical Net vorübergehend abgestürzt sind - aber wer ist das
eigentlich in diesen Tagen nicht? Daher mein Fazit: usw.
Ich denke, daß der Bereich um 70.000 - 80.000 Y ein sehr solider Basis für Softbank ist. Auch wenn Yahoo jetzt ein bißchen abschmiert.
Genauso wie Yahoo werden auch andere Internetunternehmen wieder steigen und damit Softbank und CMGI auch.
Genauso wie Yahoo werden auch andere Internetunternehmen wieder steigen und damit Softbank und CMGI auch.
!
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Meine berühmte Feigheit hat mich dazu veranlasst, mit leichten Verlusten rauszugehen (brauchte Geld für was anderes). Vielleicht ist eine Aktie, bei der die Analysten Kurszieldifferenzen von einigen 100% haben (98.300 bis 400.000, oder gibt`s noch krassere Zahlen?), zu riskant für meine schwachen Nerven
Aber man sollte Softbank täglich beobachten und ich habe mich sicherlich nicht endgültig aus dem Fanclub verabschiedet...
Aber man sollte Softbank täglich beobachten und ich habe mich sicherlich nicht endgültig aus dem Fanclub verabschiedet...
heute zu 715 positionen aufbauen
An Alle!
Wieder neue Links unter
www.aktien-link.de
zu allen wichtigen Weltbörsen,
unterteilt in Rubriken (z.B. Kurse & Charts, Börsenbriefe,
News & Adhoc, Musterdepots, Optionsscheine, u.a.).
Die Links sind alle beschrieben und nach Qualität geordnet.
Gruß indiahit
Wieder neue Links unter
www.aktien-link.de
zu allen wichtigen Weltbörsen,
unterteilt in Rubriken (z.B. Kurse & Charts, Börsenbriefe,
News & Adhoc, Musterdepots, Optionsscheine, u.a.).
Die Links sind alle beschrieben und nach Qualität geordnet.
Gruß indiahit
weiter meinungen zu softbank schreiben. hab eien neuen thread aufgemacht zu INTERQ !!!! mal reinschauen!!!
meint ihr die nasdaq hievt softbank montag auf + 5000 yen??
würde eigentlich nochmal gerne unter 700 kaufen!!
würde eigentlich nochmal gerne unter 700 kaufen!!
das war vielleicht die wende. schade das ich nicht mehr nachgekauft hab!!
Monday April 10, 3:42 am Eastern Time
Tokyo stocks up, need new support to keep rising
By Kiyoshi Takenaka
TOKYO, April 10 (Reuters) - Tokyo stocks closed sharply higher on Monday as investors took their cue from sharp gains in U.S. technology issues and picked up a wide range of shares, including high-tech firms and some of traditional manufacturers such as heavy machinery makers, market players said.
``After the Nasdaq gain, a sense of relief spread across the market and players stepped in to buy on dips,`` said Sho Ikeda, a general manager of investment research at Nikko Asset Management.
But market players said the Tokyo market would need additional external support to gain further ground.
``For the Nikkei to move further up, some fresh surprise is necessary, like another rally in the Nasdaq or upward revisions in corporate earnings forecasts,`` said Masatoshi Sato, an equities manager at Kankaku Securities.
In U.S. trading on Friday, the tech-heavy Nasdaq composite index (^IXIC - news) jumped 4.19 percent.
Tokyo`s benchmark Nikkei average fell last week for three consecutive days before rebounding slightly on Friday as sharp losses earlier in the week in U.S. high-tech issues hurt investor sentiment.
On Monday the key Nikkei average of 225 leading shares closed up 366.25 points or 1.81 percent at 20,619.06.
The June Nikkei futures <0#JNI:> rose 200 points to 20,640.
The capital-weighted TOPIX index (^TOPX - news) of all shares listed on the first section of the Tokyo Stock Exchange (TSE) gained 39.12 points or 2.33 percent to end at 1,716.74.
Among leading high-tech manufacturers, Sony Corp climbed 3.92 percent to 14,570, while Hitachi Ltd jumped 5.66 percent to 1,401 yen.
Toshiba Corp rose 3.98 percent to 1,045 yen after an announcement it would jointly develop integrated circuits for colour liquid crystal displays used in mobile phones with Samsung Electronics Co Ltd and unlited Japanese firm Optrex Corp.
In the Internet sector, Softbank Corp staged a rebound, rising by its daily limit of 5,000 yen or 7.09 percent to 75,500 yen, after sliding in the previous six sessions.
Gains in the major Internet investor lent a bullish tone to the sector, with another major investor in Internet-related startups, Trans Cosmos Inc , rising 8.65 percent to 25,130 yen and Yahoo Japan Corp up 13.4 percent at 56.7 million yen.
Hikari Tsushin Inc , which had remained ask-only with a scarcity of would-be buyers over the last six trading days, was traded at the close of Monday`s session via a special matching method at 45,800 yen. That was down 80 percent from its closing peak of 230,000 yen reached on February 14.
Although Hikari shares have finally been traded, there do not seem to be many investors in the market who are willing to buy at the current level, traders said.
Hikari Tsushin, which had been in a downtrend along with other Internet shares since mid-February as investors grew cautious over the high valuations of Internet stocks and locked in profits, came under renewed pressure when it issued a profit warning late last month.
After sharp and prolonged declines in core Internet stocks, institutional investors are now increasingly reluctant to incorporate Internet stocks in their portfolios, Nikko Asset Management`s Ikeda said.
DDI Corp rose 110,000 yen or 10.89 percent to 1.12 million yen, extending recent gains prompted by news last week that Toyota Motor Corp would raise its stake in DDI by buying 120 billion yen worth of new shares, boosting its presence in a new telecom firm to be created through a merger in October.
The long-distance carrier and mobile phone operator is due to merge with international carrier KDD Corp and IDO Corp, a cell phone unit of Toyota, creating the nation`s second-largest telecom group after Nippon Telegraph and Telephone Corp (NTT) .
KDD was up 13.01 percent at 11,730 yen.
Three major NTT group firms were all higher after the Nasdaq rally, with NTT up 70,000 yen or 4.73 percent at 1.55 million yen, mobile phone giant NTT Docomo gaining 170,000 yen or 4.26 percent to 4.16 million yen, and computer system integrator NTT Data Corp climbing 70,000 yen or 4.35 percent to 1.68 million yen.
Among traditional manufacturers, Mitsubishi Heavy Industries Ltd rose 20 yen or 5.67 percent to 373 yen after it said earlier on Monday it is in talks with U.S. aviation giant Boeing Co (NYSE:BA - news) about possible cooperation in the broad aerospace sector.
On the TSE`s first section, volume totalled 519.81 million shares, down from Friday`s 585.32 million.
Advancers dwarfed decliners 874 to 366, while 150 issues were unchanged.
Among other indices, the Nikkei 300 rose 2.04 percent to 329.30 and the second section index gained 0.88 percent to end at 2,703.38.
Tokyo stocks up, need new support to keep rising
By Kiyoshi Takenaka
TOKYO, April 10 (Reuters) - Tokyo stocks closed sharply higher on Monday as investors took their cue from sharp gains in U.S. technology issues and picked up a wide range of shares, including high-tech firms and some of traditional manufacturers such as heavy machinery makers, market players said.
``After the Nasdaq gain, a sense of relief spread across the market and players stepped in to buy on dips,`` said Sho Ikeda, a general manager of investment research at Nikko Asset Management.
But market players said the Tokyo market would need additional external support to gain further ground.
``For the Nikkei to move further up, some fresh surprise is necessary, like another rally in the Nasdaq or upward revisions in corporate earnings forecasts,`` said Masatoshi Sato, an equities manager at Kankaku Securities.
In U.S. trading on Friday, the tech-heavy Nasdaq composite index (^IXIC - news) jumped 4.19 percent.
Tokyo`s benchmark Nikkei average fell last week for three consecutive days before rebounding slightly on Friday as sharp losses earlier in the week in U.S. high-tech issues hurt investor sentiment.
On Monday the key Nikkei average of 225 leading shares closed up 366.25 points or 1.81 percent at 20,619.06.
The June Nikkei futures <0#JNI:> rose 200 points to 20,640.
The capital-weighted TOPIX index (^TOPX - news) of all shares listed on the first section of the Tokyo Stock Exchange (TSE) gained 39.12 points or 2.33 percent to end at 1,716.74.
Among leading high-tech manufacturers, Sony Corp climbed 3.92 percent to 14,570, while Hitachi Ltd jumped 5.66 percent to 1,401 yen.
Toshiba Corp rose 3.98 percent to 1,045 yen after an announcement it would jointly develop integrated circuits for colour liquid crystal displays used in mobile phones with Samsung Electronics Co Ltd and unlited Japanese firm Optrex Corp.
In the Internet sector, Softbank Corp staged a rebound, rising by its daily limit of 5,000 yen or 7.09 percent to 75,500 yen, after sliding in the previous six sessions.
Gains in the major Internet investor lent a bullish tone to the sector, with another major investor in Internet-related startups, Trans Cosmos Inc , rising 8.65 percent to 25,130 yen and Yahoo Japan Corp up 13.4 percent at 56.7 million yen.
Hikari Tsushin Inc , which had remained ask-only with a scarcity of would-be buyers over the last six trading days, was traded at the close of Monday`s session via a special matching method at 45,800 yen. That was down 80 percent from its closing peak of 230,000 yen reached on February 14.
Although Hikari shares have finally been traded, there do not seem to be many investors in the market who are willing to buy at the current level, traders said.
Hikari Tsushin, which had been in a downtrend along with other Internet shares since mid-February as investors grew cautious over the high valuations of Internet stocks and locked in profits, came under renewed pressure when it issued a profit warning late last month.
After sharp and prolonged declines in core Internet stocks, institutional investors are now increasingly reluctant to incorporate Internet stocks in their portfolios, Nikko Asset Management`s Ikeda said.
DDI Corp rose 110,000 yen or 10.89 percent to 1.12 million yen, extending recent gains prompted by news last week that Toyota Motor Corp would raise its stake in DDI by buying 120 billion yen worth of new shares, boosting its presence in a new telecom firm to be created through a merger in October.
The long-distance carrier and mobile phone operator is due to merge with international carrier KDD Corp and IDO Corp, a cell phone unit of Toyota, creating the nation`s second-largest telecom group after Nippon Telegraph and Telephone Corp (NTT) .
KDD was up 13.01 percent at 11,730 yen.
Three major NTT group firms were all higher after the Nasdaq rally, with NTT up 70,000 yen or 4.73 percent at 1.55 million yen, mobile phone giant NTT Docomo gaining 170,000 yen or 4.26 percent to 4.16 million yen, and computer system integrator NTT Data Corp climbing 70,000 yen or 4.35 percent to 1.68 million yen.
Among traditional manufacturers, Mitsubishi Heavy Industries Ltd rose 20 yen or 5.67 percent to 373 yen after it said earlier on Monday it is in talks with U.S. aviation giant Boeing Co (NYSE:BA - news) about possible cooperation in the broad aerospace sector.
On the TSE`s first section, volume totalled 519.81 million shares, down from Friday`s 585.32 million.
Advancers dwarfed decliners 874 to 366, while 150 issues were unchanged.
Among other indices, the Nikkei 300 rose 2.04 percent to 329.30 and the second section index gained 0.88 percent to end at 2,703.38.
heute ist wieder kaufkurs!!!!!
also ich glaube eigentlich das wir bald wieder wenigstens die 1200 euro wieder sehen . was meint ihr??
Hallo !
wundere mich schon geraume Zeit warum bei Euch die Liebe zu Softbank
so groß ist. Der Durchbruch bei 800€ konnte nicht bestätigt werden.
Und alle anderen Signale halten den Daumen ebenfalls nach unten.
Würde mich für Euch freuen wenn ich unrecht habe.
wundere mich schon geraume Zeit warum bei Euch die Liebe zu Softbank
so groß ist. Der Durchbruch bei 800€ konnte nicht bestätigt werden.
Und alle anderen Signale halten den Daumen ebenfalls nach unten.
Würde mich für Euch freuen wenn ich unrecht habe.
Hallo ich bin neu hier. Wieso ist der Kurs in xetra-Handel unter 700 gerutscht. Bedeutet das, die Kurse morgen nochmals nach unten gehen ?
Gruss wolfrist
Gruss wolfrist
Hi, wolfrist!
Der letzte Xetra-Kurs um 17:30 Uhr war 716 Euro, aber bei den Hämmern
aus USA hat`s denen bei WO wahrscheinlich die Maschine zerbröselt.
Bullish ist mein zweiter Vorname, wenn`s um die Weichbank geht, aber
das Störfeuer aus Amerika ist schon SEHR beunruhigend.
Eigentlich hatte ich gedacht, dass sich die Softbank heute sehr gut
hält, sie war nämlich der einzige bedeutende Internet-Wert, der sich
in Japan heute morgen behaupten konnte. Aber - denken und Börse
vertragen sich leider oftmals nicht. Bleibt nur, auf morgen zu hoffen
(und das nach dem erneuten Bar-B-Q in God`s own country!).
Der letzte Xetra-Kurs um 17:30 Uhr war 716 Euro, aber bei den Hämmern
aus USA hat`s denen bei WO wahrscheinlich die Maschine zerbröselt.
Bullish ist mein zweiter Vorname, wenn`s um die Weichbank geht, aber
das Störfeuer aus Amerika ist schon SEHR beunruhigend.
Eigentlich hatte ich gedacht, dass sich die Softbank heute sehr gut
hält, sie war nämlich der einzige bedeutende Internet-Wert, der sich
in Japan heute morgen behaupten konnte. Aber - denken und Börse
vertragen sich leider oftmals nicht. Bleibt nur, auf morgen zu hoffen
(und das nach dem erneuten Bar-B-Q in God`s own country!).
des split ist nix wildes aber trotzdem kaufen die deutschen wieder. die lernens nie!!!
trotzdem softbank muß man immer kaufen, vor allem bei 700!!!!
trotzdem softbank muß man immer kaufen, vor allem bei 700!!!!
ganz meine meinung
Hi!
Habe heute meine Softbank mit 1000% Gewinn verkauft.
Warum?
Wegen dieser Analyse vom 11.04.00:
ANALYSE: HSBC bewertet Softbank und Oracle Japan
unverändert mit `Sell`
TOKIO (dpa-AFX) - Die Analysten von HSBC Securites
haben die Aktien von Softbank und Oracle Japan
unverändert mit "Sell" eingestuft. In einer Studie zur
japanischen Oracle-Tochter sehen die Analysten keinen
Beweis dafür, dass das Wachstum von Oracle Japan weit
über dem der Muttergesellschaft liegen werde. Den
zurückliegende Anstieg des Aktienkurses bewerteten die Experten mittlerweile als "stratophärisch". Obwohl
Oracle Japan gemessen am Nettogewinn Wachstumsraten von knapp 64% verspreche, liege das
Kurs/Gewinn-Verhältnis in Relation zum Wachstum (PEG) gegenwärtig bei 14,2. Demgegenüber weise die
US-Muttergesellschaft ein PEG von 5,5 auf.
Ähnlich pessimistisch äußerte sich HSBC-Technologieanalyst Ben Wedmore zu Softbank. Der Markt bewerte
die Aktie derzeit mit dem fünffachen des Kurs-/Buchwertverhältnisses, wobei zunächst zwar die Kosten aber
nicht die Gewinne steigen dürften. Der Experte betrachtete in seiner Analyse ebenfalls die
Softbank-Beteiligung an Yahoo . Das Papier sei gegenwärtig zu hoch bewertet, hieß es in der Studie.
Auch diejenigen Gesellschaften, die innerhalb der Softbank-Holding noch nicht börsengelistet sind, seien
eindeutig überbewertet./kg/fs
Bei Kursen um die 500 Euro steige ich vielleicht wieder ein.
Gruß
St. Pepper
Habe heute meine Softbank mit 1000% Gewinn verkauft.
Warum?
Wegen dieser Analyse vom 11.04.00:
ANALYSE: HSBC bewertet Softbank und Oracle Japan
unverändert mit `Sell`
TOKIO (dpa-AFX) - Die Analysten von HSBC Securites
haben die Aktien von Softbank und Oracle Japan
unverändert mit "Sell" eingestuft. In einer Studie zur
japanischen Oracle-Tochter sehen die Analysten keinen
Beweis dafür, dass das Wachstum von Oracle Japan weit
über dem der Muttergesellschaft liegen werde. Den
zurückliegende Anstieg des Aktienkurses bewerteten die Experten mittlerweile als "stratophärisch". Obwohl
Oracle Japan gemessen am Nettogewinn Wachstumsraten von knapp 64% verspreche, liege das
Kurs/Gewinn-Verhältnis in Relation zum Wachstum (PEG) gegenwärtig bei 14,2. Demgegenüber weise die
US-Muttergesellschaft ein PEG von 5,5 auf.
Ähnlich pessimistisch äußerte sich HSBC-Technologieanalyst Ben Wedmore zu Softbank. Der Markt bewerte
die Aktie derzeit mit dem fünffachen des Kurs-/Buchwertverhältnisses, wobei zunächst zwar die Kosten aber
nicht die Gewinne steigen dürften. Der Experte betrachtete in seiner Analyse ebenfalls die
Softbank-Beteiligung an Yahoo . Das Papier sei gegenwärtig zu hoch bewertet, hieß es in der Studie.
Auch diejenigen Gesellschaften, die innerhalb der Softbank-Holding noch nicht börsengelistet sind, seien
eindeutig überbewertet./kg/fs
Bei Kursen um die 500 Euro steige ich vielleicht wieder ein.
Gruß
St. Pepper
Was haltet Ihr von dem geplanten Kauf der "Nippon Credit Bank"??
Ich hoffe, dass die endgültige Nachricht des erfolgreichen Kaufs der Aktie neuen Auftrieb geben kann.
Kurzfristig bin ich gespannt, inwiefern die guten Zahlen und der Kursanstieg bei E*TRADE den Softbank-Kurs beflügeln können.
Im Gegensatz zum "Sell" von HSBC steht ja auch immer noch das Lehman-Brothers-Kursziel von 400.000 Yen im Raum .... und die sind ja auch nicht gerade blutige Anfänger!!!
Ich hoffe, dass die endgültige Nachricht des erfolgreichen Kaufs der Aktie neuen Auftrieb geben kann.
Kurzfristig bin ich gespannt, inwiefern die guten Zahlen und der Kursanstieg bei E*TRADE den Softbank-Kurs beflügeln können.
Im Gegensatz zum "Sell" von HSBC steht ja auch immer noch das Lehman-Brothers-Kursziel von 400.000 Yen im Raum .... und die sind ja auch nicht gerade blutige Anfänger!!!
In Japan geht`s wieder in den Süden. Habe heute bei 770 verkauft und bin verdammt happy damit. Werde trotzdem ein Auge drauf behalten.
Heute wieder Limit down in Japan.
Bin heilfroh meine SFT zu 815 mit Verlusten verkauft zu haben.
Wenn die 200 Tage Linie nicht haelt, dann gehts weiter bis 450 €
Bin heilfroh meine SFT zu 815 mit Verlusten verkauft zu haben.
Wenn die 200 Tage Linie nicht haelt, dann gehts weiter bis 450 €
Guten Morgen!!!
Kurze Frage: Wie hat Softbank in Japan geschlossen???
Bitte rechnet den Yen-Kurs in EUR um.
Danke...CU later........Bye
Kurze Frage: Wie hat Softbank in Japan geschlossen???
Bitte rechnet den Yen-Kurs in EUR um.
Danke...CU later........Bye
SOFTBANK
SOFBK
Detail 11:02*
Aktuell 66300 Geld 66300
Vortag 71300 Brief 66400
+/- -5000 Jahreshoch 198000
+/- % -7.01 Jahreshoch-Datum 15.Feb
Volumen 671700 Jahrestief 68300
Tageshoch 70700 Jahrestief-Datum 7.Apr
Tagestief 66300
Quelle: nzz.ch
1 € = 101 Yen
SOFBK
Detail 11:02*
Aktuell 66300 Geld 66300
Vortag 71300 Brief 66400
+/- -5000 Jahreshoch 198000
+/- % -7.01 Jahreshoch-Datum 15.Feb
Volumen 671700 Jahrestief 68300
Tageshoch 70700 Jahrestief-Datum 7.Apr
Tagestief 66300
Quelle: nzz.ch
1 € = 101 Yen
Tja die Zeit wird knapp. hab nochmal zu 505 nachgelegt. In USA sind sie total gecrasht!!! Aber ich hoffe weiter!!
wenns heut nacht wieder runter geht werd ich zum ltzten kauf ansetzen. betet mit mir
das wars jetzt hoffentlich. trotz negativer nasdaq-vorgabe 3 mal limit in serie. die japaner haben es begriffen!!!!!
wunderbar. mittlerweile stehen wir bei 870 euro ( umgerechnet) und damit 100% über dem Tief vor ein paar Tagen!! Was denkt ihr, geht es so weiter?
Nicht mehr so rasant, jedoch 350 nach Split ist in den nächsten
Tagen realisierbar.
Tagen realisierbar.
mittlerweile siehts etwas dunkler aus. dennoch denke ich man sollte langsam wieder zugreifen. ich bin mittlerweile 80 euro pro aktie im minus, bin aber noch hoffnungsvoll.
meinungen???
meinungen???
hallo Leute,
warum wird in Deutschland ein so gigantischer Aufschlag von 15 bis 20 % auf Softbank gezahlt,
obwohl die Aktie in Japan wieder mit 7 % deutlich verloren hat? Weiß jemand warum.Bitte um
Antworten.
mfg moneyfuchs
warum wird in Deutschland ein so gigantischer Aufschlag von 15 bis 20 % auf Softbank gezahlt,
obwohl die Aktie in Japan wieder mit 7 % deutlich verloren hat? Weiß jemand warum.Bitte um
Antworten.
mfg moneyfuchs
Reine Charttechnik ?
zu moneyfuchs:
weil viele bekloppte deutsche meinen, ein schnäppchen zu machen!!!
"never fight the trend"
war auch mal in softbank, bin zum glück nach 240rein bei 770raus.
bin aber noch dicke drin in us-i-net´s ohne ausgestiegen zu sein,
deshalb bitte kein neid
weil viele bekloppte deutsche meinen, ein schnäppchen zu machen!!!
"never fight the trend"
war auch mal in softbank, bin zum glück nach 240rein bei 770raus.
bin aber noch dicke drin in us-i-net´s ohne ausgestiegen zu sein,
deshalb bitte kein neid
Ein paar Fragen:
- Werden die alten Softbank-Aktien (891624) auf die neuen (929976)umgestellt?? Oder umgekehrt?
- Wann wird die Umstellung denn stattfinden?
- Wie seht Ihr Softbank momentan??
- Was denkt Ihr: wie werden sich die Zahlen, die Ende der Woche gemeldet werden sollen, auf den Kurs auswirken??
Danke!
thomas_s
- Werden die alten Softbank-Aktien (891624) auf die neuen (929976)umgestellt?? Oder umgekehrt?
- Wann wird die Umstellung denn stattfinden?
- Wie seht Ihr Softbank momentan??
- Was denkt Ihr: wie werden sich die Zahlen, die Ende der Woche gemeldet werden sollen, auf den Kurs auswirken??
Danke!
thomas_s
die zahlen waren eher bescheiden aber der Kurs hat doch wieder etwas angezogen. die aussichten von herrn son waren auch dementsprechend vielversprechend. einige firmen incl. tochterfirmen von softbank soolen an die börse gebracht werden. deshalb denke ich, daß es in Anbetracht einer auf jahressicht steigenden nasdaq, auch mit softbank bis 2001 auf 400 euro gehen sollte.
Hi! Softbank hat nach seiner Ergebnisbekanntgabe noch bekanntgegeben, weitere Töchter-Börsengänge zu realisieren. Wie ist Eurer Meinung
nach die Wirkung auf den Kurs?
Softbank mit Börsengängen
29.05.2000 Softbank Corp. (Tokio, TSE: 9984, WKN: 891624): Japans Internetinvestor plant laut
eigenen Angaben, mehrere Holdingteile an die Börse zu bringen. In diesem Geschäftsjahr, also
spätestens bis Ende März 2001, sollen mindestens vier Tochterunternehmen an die Börse
gebracht werden. Darunter befindet sich Softbank Finance Group, eine Holding, die Softbanks,
Finanzen koordinert. Im nächsten Geschäftsjahr sollen ebenfalls vier Töchter, darunter Weblease,
ein Leasing-Joint Venture, und das Internetversicherungsunternehmen Insweb, ihren Börsengang
absolvieren. Softbank beabsichtigt so, die Transparenz des Unternehmens zu erhöhen.
In Tokio stieg der Kurs von Softbank um 5,52%.
Quelle: www.internetaktien.de
nach die Wirkung auf den Kurs?
Softbank mit Börsengängen
29.05.2000 Softbank Corp. (Tokio, TSE: 9984, WKN: 891624): Japans Internetinvestor plant laut
eigenen Angaben, mehrere Holdingteile an die Börse zu bringen. In diesem Geschäftsjahr, also
spätestens bis Ende März 2001, sollen mindestens vier Tochterunternehmen an die Börse
gebracht werden. Darunter befindet sich Softbank Finance Group, eine Holding, die Softbanks,
Finanzen koordinert. Im nächsten Geschäftsjahr sollen ebenfalls vier Töchter, darunter Weblease,
ein Leasing-Joint Venture, und das Internetversicherungsunternehmen Insweb, ihren Börsengang
absolvieren. Softbank beabsichtigt so, die Transparenz des Unternehmens zu erhöhen.
In Tokio stieg der Kurs von Softbank um 5,52%.
Quelle: www.internetaktien.de
nur weiter investieren. die rendite kommt im winter
Hallo,
Börse
Tokio schließt freundlich
Der Tokioter Aktienmarkt ging fester aus dem Handel. Der Nikkei-225-Index verzeichnete ein Plus von 2,22 Prozent bei 16.694,30 Zählern. Auch der breiter gefasste Topix legte um 1,26 Prozent auf 1.541,98 Punkte zu.
Anhaltende Kursgewinne bei den Technologiewerten hätten die Stimmung begünstigt, erklärten Händler. Die Marktteilnehmer erkennen, dass sie in den vorangegangenen Tagen überverkauft hätten. Allerdings zeigen sich einige Investoren in Erwartung der anstehenden US-Wirtschaftsdaten noch vorsichtig.
Das Internet-Unternehmen Softbank konnte die Vortagesverluste mit einem Plus von 4,24 Prozent auf 17.200 Yen wieder wettmachen. Investoren kehrten in den Wert zurück, nachdem sie erkannt hatten, dass Softbank immer noch ein starker Kandidat für die defizitäre Nippon Credit Bank sei, erklärten Börsianer. Die Regierung hatte Softbank zuvor die exklusiven Rechte für den Kauf von NCB verweigert.
Der Internet-Investor und Mobilfunkbetreiber Hikari Tsushin musste dagegen Abschläge hinnehmen. Der Wert rutschte um 19,61 Prozent auf 4.100 Yen. Einer der Lizenznehmer des Unternehmens hatte zuvor Konkurs angemeldet und damit die Zahl der gescheiterten Hikari-Vertreter auf drei erhöht.
Quelle: n-tv
Gruß
Börse
Tokio schließt freundlich
Der Tokioter Aktienmarkt ging fester aus dem Handel. Der Nikkei-225-Index verzeichnete ein Plus von 2,22 Prozent bei 16.694,30 Zählern. Auch der breiter gefasste Topix legte um 1,26 Prozent auf 1.541,98 Punkte zu.
Anhaltende Kursgewinne bei den Technologiewerten hätten die Stimmung begünstigt, erklärten Händler. Die Marktteilnehmer erkennen, dass sie in den vorangegangenen Tagen überverkauft hätten. Allerdings zeigen sich einige Investoren in Erwartung der anstehenden US-Wirtschaftsdaten noch vorsichtig.
Das Internet-Unternehmen Softbank konnte die Vortagesverluste mit einem Plus von 4,24 Prozent auf 17.200 Yen wieder wettmachen. Investoren kehrten in den Wert zurück, nachdem sie erkannt hatten, dass Softbank immer noch ein starker Kandidat für die defizitäre Nippon Credit Bank sei, erklärten Börsianer. Die Regierung hatte Softbank zuvor die exklusiven Rechte für den Kauf von NCB verweigert.
Der Internet-Investor und Mobilfunkbetreiber Hikari Tsushin musste dagegen Abschläge hinnehmen. Der Wert rutschte um 19,61 Prozent auf 4.100 Yen. Einer der Lizenznehmer des Unternehmens hatte zuvor Konkurs angemeldet und damit die Zahl der gescheiterten Hikari-Vertreter auf drei erhöht.
Quelle: n-tv
Gruß
sehr positiv, daß die nbc-story nicht auf den kurs drückt und softy die nasdaq-vorlage zum limit up nutzt.
Hallo,
selbst nach "Börsenschluß" hat Softbank immer noch ordentliche Power.
Ist schon sehr erstaunlich, wie stark diese Aktie hier in Deutschland ist.
Weiterso, liebe Softbankfreunde!
Gruß
selbst nach "Börsenschluß" hat Softbank immer noch ordentliche Power.
Ist schon sehr erstaunlich, wie stark diese Aktie hier in Deutschland ist.
Weiterso, liebe Softbankfreunde!
Gruß
naja, wir schwächeln heut etwas. aber trotzdem hält sie sich besser als zB Jafco
!
Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an feedback@wallstreet-online.de
bin auch zu 900 eingestiegen, hab aber noch drei Jahre Zeit und bis dahin wird alles wieder gut
endlich wieder ein lebenszeichen
es sieht gut aus für einen kleinen hupfer. aber bis 300 ist ein langer weg
Hey Jungs, kopf Hoch.
Bin Mittwoch zu 118 und Donnerstag zu 98 rein. Halte jetzt 100 Stück, was ca. 20000 Mark sind. Ich denke , daß diese 100 Aktien in 5 Jahren 200.000 wert sein werden, selbst dann läge SFTB MKPT erst bei ca. 150 Milliarden Euro.
Halte neben Softbank noch commerce 1 (+-0),Ariba (Einstieg bei 57), CMGI (52-Scheiße´) Vertex( 85),Transcosmos (200), Infospace (51) und noch einen Biotech-Fonds.
Auf Sicht von 3 Jahren sind diese Aktien alle VErdreifacher!!!
As of 7/7/00 15:00 (JST)
Total Market Capitalization: 3,166.0 Billion Yen
Total Net Unrealized Gains: 2,925.2 Billion Yen
?@ Current
Price
($/Y) Change Shares
Held Cost
Basis ($) Mkt Cap.
(M Yen) Unrealized
Gain
(Loss)
(M Yen)
Thursday, July 6, 2000 15:00 PM (EST)
(Calculated using the closing prices and an exchange rate of $1.00 = Y 107.11)
Buy.com
(price) 5 5/16 +3/16 10,741,325 20,000,000 6,112 3,969
CyberCash
(price) 6 7/16 +15/16 10,000 158,100 6 (10)
E-LOAN, Inc.
(price) 4 5/8 - 3,517,776 21,531,374 1,742 (563)
E*TRADE
(price) 16 -5/16 62,591,688 400,000,006 107,267 64,423
Healtheon
/WebMD
(price) 14 3/4 +7/16 1,625,613 49,030,367 2,568 (2,683)
InsWeb
(price) 2 3/8 +1/4 7,719,875 80,751,432 1,963 (6,685)
MessageMedia
(price) 4 -1/8 10,819,678 10,120,662 4,635 3,551
UTStarcom,Inc.
(price) 29 9/16 +2 13/16 44,651,630 161,621,332 141,386 124,075
Webvan
(price) 6 7/8 +1/8 35,789,976 33,356,338 26,355 22,782
Yahoo! Inc.
(price) 122 3/8 +1 9/16 118,879,913 360,579,420 1,558,228
1,519,607
Ziff-Davis Inc.
(price) 10 +3/4 71,619,355 1,022,862,093 76,711 (32,847)
Friday, July 7, 2000 15:00 PM (JST)
Yahoo Japan
(price) 38,000,000 +4,450,000 29,701 7,662
(M Yen) 1,128,638 1,120,976
PASONA
SOFTBANK (price) 2,530 -60 807,940 733
(M Yen) 2,044 1,311
SOFTBANK
TECHNOLOGY
(price) 9,220 +520 6,367,500 117
(M Yen) 58,708 5,891
IRI
(price) 9,200,000 +300,000 825 125
(M Yen) 7,590 7,465
CyberAgent
(Price) 6,100,000 - 80 4
(M Yen) 488 484
Morningstar Japan
(price) 5,800,000 -10,000 7,167 717
(M Yen) 41,568 40,851
Total (M Yen) 3,166,015 2,925,298
*Note: This list excludes strategic cross-holdings and listed securites held by SOFTBANK affiliated venture funds.
?£Back to Top
Outstanding SOFTBANK CORP. Shares: 330,820,233 (June 30, 2000)
Bin Mittwoch zu 118 und Donnerstag zu 98 rein. Halte jetzt 100 Stück, was ca. 20000 Mark sind. Ich denke , daß diese 100 Aktien in 5 Jahren 200.000 wert sein werden, selbst dann läge SFTB MKPT erst bei ca. 150 Milliarden Euro.
Halte neben Softbank noch commerce 1 (+-0),Ariba (Einstieg bei 57), CMGI (52-Scheiße´) Vertex( 85),Transcosmos (200), Infospace (51) und noch einen Biotech-Fonds.
Auf Sicht von 3 Jahren sind diese Aktien alle VErdreifacher!!!
As of 7/7/00 15:00 (JST)
Total Market Capitalization: 3,166.0 Billion Yen
Total Net Unrealized Gains: 2,925.2 Billion Yen
?@ Current
Price
($/Y) Change Shares
Held Cost
Basis ($) Mkt Cap.
(M Yen) Unrealized
Gain
(Loss)
(M Yen)
Thursday, July 6, 2000 15:00 PM (EST)
(Calculated using the closing prices and an exchange rate of $1.00 = Y 107.11)
Buy.com
(price) 5 5/16 +3/16 10,741,325 20,000,000 6,112 3,969
CyberCash
(price) 6 7/16 +15/16 10,000 158,100 6 (10)
E-LOAN, Inc.
(price) 4 5/8 - 3,517,776 21,531,374 1,742 (563)
E*TRADE
(price) 16 -5/16 62,591,688 400,000,006 107,267 64,423
Healtheon
/WebMD
(price) 14 3/4 +7/16 1,625,613 49,030,367 2,568 (2,683)
InsWeb
(price) 2 3/8 +1/4 7,719,875 80,751,432 1,963 (6,685)
MessageMedia
(price) 4 -1/8 10,819,678 10,120,662 4,635 3,551
UTStarcom,Inc.
(price) 29 9/16 +2 13/16 44,651,630 161,621,332 141,386 124,075
Webvan
(price) 6 7/8 +1/8 35,789,976 33,356,338 26,355 22,782
Yahoo! Inc.
(price) 122 3/8 +1 9/16 118,879,913 360,579,420 1,558,228
1,519,607
Ziff-Davis Inc.
(price) 10 +3/4 71,619,355 1,022,862,093 76,711 (32,847)
Friday, July 7, 2000 15:00 PM (JST)
Yahoo Japan
(price) 38,000,000 +4,450,000 29,701 7,662
(M Yen) 1,128,638 1,120,976
PASONA
SOFTBANK (price) 2,530 -60 807,940 733
(M Yen) 2,044 1,311
SOFTBANK
TECHNOLOGY
(price) 9,220 +520 6,367,500 117
(M Yen) 58,708 5,891
IRI
(price) 9,200,000 +300,000 825 125
(M Yen) 7,590 7,465
CyberAgent
(Price) 6,100,000 - 80 4
(M Yen) 488 484
Morningstar Japan
(price) 5,800,000 -10,000 7,167 717
(M Yen) 41,568 40,851
Total (M Yen) 3,166,015 2,925,298
*Note: This list excludes strategic cross-holdings and listed securites held by SOFTBANK affiliated venture funds.
?£Back to Top
Outstanding SOFTBANK CORP. Shares: 330,820,233 (June 30, 2000)
Hey bigguru, vielleicht sollten wir beide mal was anderes lesen als nur "Der Aktionär". Kommt mit jedenfalls alles sehr bekannt vor (inkl. der Einstiegskurse). btw, glaubt ihr, wir testen die 100 noch mal?
es sieht düster aus. was meint ihr? kommen die 50??
ich schmeiß mich weg vor lachen!!! wann sehen wir endlich die 50?
softbank ein Kauf??
INTERVIEW: MASAYOSHI SON
The Man Who Would Be King
Having built Japan`s biggest software wholesaler into an Asian Internet colossus, Son has watched a souring market, questionable investments and the lack of a coherent strategy take the sheen off Softbank Corp.
By Chester Dawson/TOKYO
Issue cover-dated November 16, 2000
MOST PEOPLE KNOW Masayoshi Son, the 43-year-old head of Internet powerhouse Softbank, as one of the world`s richest men. Fewer are aware of his humble upbringing, literally on the wrong side of the tracks. Son`s childhood home was a makeshift structure built on the side of a railway owned by the former national rail company in rural southwestern Japan. His birth certificate has no street address. As an ethnic Korean whose grandfather worked in the coal mines of Kyushu, he faced plenty of schoolyard taunting and learned early on that it wouldn`t be easy winning acceptance in Japan`s close-knit and status-conscious society.
Son appears to bear remarkably few scars--or ill will--from the discrimination he suffered. In fact, he says half-jokingly that having a Korean surname may have helped him stand out from the crowd as a young entrepreneur. Yet one form of prejudice he encountered when starting out appears to have irked him more than any other: repeated rejections for bank loans because of his non-Japanese name. Frustrated, Son had to find alternative sources of funding such as bond and equity-based financing and loans from insurers instead of banks. This could also be part of the reason why, two decades after blue-chip lenders closed their doors to him, he now owns one.
Softbank plans to reinvent the failed Nippon Credit Bank, renamed Aozora Bank, as a provider of seed capital to start-ups. In many ways, NCB was a trophy purchase marking his arrival in the major leagues of Japanese business. But it also reflects a deep passion for fixing what he sees as a weakness in the Japanese economy--a serious dearth of funding for entrepreneurs.
Son makes no secret that he views himself as being in the vanguard of a movement to shake up the status quo and make crusty Japan Inc. more open to outsiders. "In order for us to be successful in our information revolution, we have to change Japan," he says. Setting that kind of far-reaching goal is classic Son. So is a penchant for big risk-taking. He could easily walk away from critics and retire comfortably on the gains from farsighted early investments in the Yahoo! franchise. Instead, he is seeking to make a deeper mark as an Internet kingpin and self-described revolutionary.
Son`s relentless drive, honed during his years as a maverick entrepreneur, is reflected in hobbies outside work. In addition to golf with business partners and spending time with his wife and children, Son enjoys an occasional round of "Street Fighter" on his PlayStation videogame console. He`s also fascinated with great historical figures; his bedside reading list is heavy on biographies of brilliant tacticians such as Chinese philosopher Sun Tzu, American oil baron John D. Rockefeller, Japanese warlord Oda Nobunaga and Mongol conqueror Ghengis Khan. Son says the key factors for success "are the same no matter whether it`s business or revolution or history or politics or whatever."
Those factors include a knack for innovation and sensing opportunity. Son acquired his first taste of success as an undergraduate student at the University of California at Berkeley in the late 1970s. In his spare time, he built a business selling used Japanese videogames to American pizza parlours. Later, Son pocketed $1 million selling his designs for a pocket-sized translation device to electronics maker Sharp. He used those funds in 1981 to set up Softbank. A pioneer in Japan`s software-distribution business, the company quickly became the country`s largest wholesaler of software titles during the 1980s. In the 1990s, it enabled Son to finance his first strategic investments in promising Internet plays.
Son`s disdain for nemawashi, or traditional Japanese consensus-building, and his penchant for rhetorical flourishes haven`t endeared him to everyone, especially in his home country. Many in Tokyo`s big-business establishment are known to look down on him as an outspoken publicity hound. Some sceptics in the investment community and media see him as little better than a modern-day snake-oil salesman.
Indeed, Son is the first to admit that some of his more eccentric business ideas never took off. An early example of one such flop was the styrofoam toilet-seat cover, a product he says he patented in the late 1970s. "I still think it`s a good idea. It`s disposable, soft and very sanitary," he says today. Yet Son is probably wise to focus his creative energies not on soft seats but on Softbank and his long-term business strategy.
Son spoke about those issues, and the infotech stock downturn, in a recent interview with REVIEW technology editor Charles Bickers and Tokyo bureau chief Chester Dawson at Softbank`s headquarters in Tokyo. Excerpts:
DO YOU WORRY ABOUT THE DIRECTION OF GLOBAL STOCKMARKETS? COULD THAT AFFECT THE PACE OF YOUR SELF-DESCRIBED "SPEED INVESTMENT" STRATEGY?
That`s a short-term issue. It`s like the beginning of the automobile industry or the beginning of telephones or TVs. If you look at all of those major investments of mankind, how many years did they take to become profitable? Of course, they were not profitable [initially] because there was not enough content, not enough infrastructure. But once it becomes profitable, it grows for so many years. The Internet is something like that.
DOES SOFTBANK HAVE AN IMAGE PROBLEM?
We should always learn from our lessons, from our history. Once there was big criticism about our organization: not open enough or transparent enough. That was not our intent at all, but if people say that then we should increase our effort to make it easier for people to understand. So this is just a part of our improvement.
HOW MUCH OF SOFTBANK`S OWN MONEY IS INVESTED IN ITS NETWORK OF 450 AFFILIATES?
The total money on pure Internet companies that we have invested so far is about $2.5 billion. We`ve cashed out $3 billion, so we`ve already got all the money back . . . out of the 30 IPOs. So we still have 420 pre-IPOs. I would say compared to any other VCs or other investment holding companies, we are doing very well--even with this current stockmarket.
WHAT IS THE TOTAL AMOUNT OF MONEY INVOLVED, INCLUDING SOFTBANK`S OWN CAPITAL AND MONEY FROM OUTSIDE INVESTORS?
The total fund size is about $6 billion.
WILL B2B REALLY TAKE OFF IN JAPAN?
Definitely. Definitely.
BUT A LOT OF JAPANESE TRADING COMPANIES SAY B2B WILL GROW ONLY A LITTLE BIT . . .
They don`t understand. They don`t understand. And it`s sad. But it`s a great opportunity for us. When something big happens, the reaction in the beginning is so small. Do you know the market cap of Ariba in the U.S.? Did you know that Ariba is the fastest-growing [company] in market cap in American history? Did you know that they were $200 million in IPO value last year--June last year? Today, they are $32 billion. Over one hundred-fifty times [bigger] in one year and three months.
HOW DO YOU RECONCILE THE PURCHASE OF A MAJOR JAPANESE BRICKS-AND-MORTAR BANK WITH SOFTBANK`S AIM OF BECOMING A PURE INTERNET ZAIBATSU?
The NCB and Nasdaq Japan is a little bit different from our pure Internet investments. It is helping change, reshape Japan. In order to make our digital-information revolution successful, we have to reshape the Japanese business environment. Japan is one of the most important markets for us. About half of our total investments and activities are in Japan, so in order for us to be successful in our information revolution, we have to change Japan.
-------------------
Zu Softbank:
NEW ECONOMY
Internet Warrior On the Defensive
Masayoshi Son`s Softbank is the world`s boldest attempt to create a New Age empire of Internet businesses. But these days Son looks less like a conquering hero, and his empire is a jumble of disparate interests that outsiders find hard to fathom
By Bruce Gilley/HONG KONG, Chester Dawson/TOKYO and Dan Biers/LOS ANGELES
Issue cover-dated November 16, 2000
IF THERE WAS EVER a time when the hopes of a whole generation of entrepreneurs were riding on the fortunes of one company, it is now. The entrepreneurs are the builders of the New Economy. The company is Japan`s Internet giant, Softbank Corp. To the builders of the New Economy, Softbank is the dream of a super-connected and super-profitable Internet juggernaut.
Until recently, that dream was alive and well. Softbank and its founder, Masayoshi Son, were the toasts of Asia. When its shares peaked in February, the company was worth $190 billion. Investment bank Lehman Brothers said the figure would double by year`s end, making it equivalent to 8% of Japan`s GDP.
But today, Softbank has stumbled. The company is worth just $23 billion, and Son, who used to affect a gentle professionalism, is sounding more like a frustrated evangelist: "This is like a religion, OK? You believe in one big theme, no matter whether people understand it or don`t understand it," he told the REVIEW in a recent interview.
In the pages that follow, the REVIEW peers deep into Softbank`s predicament. It`s a story that echoes around the world because few companies anywhere are so heavily and widely committed to the Internet business. Softbank manages about $6 billion through 11 venture-capital funds worldwide, half of it from outside investors. Directly and through its funds, it has stakes in roughly 450 Internet companies globally. In the words of Ronald Fisher, Softbank`s main man outside Japan as vice-chairman of U.S.-based Softbank Inc., the company is "the largest and broadest-based participant in the Internet economy." It`s also a model for Internet zaibatsu elsewhere, including Hong Kong`s Pacific Century CyberWorks and U.S.-based CMGI.
NEED TO FOCUS
The news is not good. A lengthy investigation of Softbank by a team of REVIEW reporters, including interviews with Son and other top Softbank executives, reveals a company pursuing different agendas and at times even groping for direction. Its vast store of Internet-related investments shows few signs of coming together to form the basis of a coherent and durable operating company in the near future. By most estimates, it still makes most of its operating profits from distributing software. Organizational weaknesses and confusion over strategy are partly to blame. So too is Son`s penchant for rapid-fire deal-making.
In the meantime, the downturn in Internet stocks worldwide is hampering Softbank`s ability to raise money, weakening an already deteriorating balance sheet. Even the California cool of Softbank`s U.S. venture-capital head Gary Rieschel doesn`t conceal the need for firm action. "People need to have some comfort that someone`s got their hand on the tiller," says Rieschel. "Masa has to respond to that."
Softbank isn`t the only putative Internet giant struggling with the shortcomings of the broad-brush approach to investing in a tumultuous industry. Besides PCCW and CMGI, other firms like U.S.-based Internet Capital Group have taken a similar approach, and suffered for it. But to varying degrees, companies like CMGI and ICG have already changed course by announcing more-focused strategies and expanded disclosure. Softbank has yet to take up that challenge.
The immediate need, analysts say, is for Softbank to zero in on certain sectors of the Internet rather than try to be all things to all people. Closely related is the need for more disclosure and less hype to attract investors. That could mean putting in place a better financial and organizational structure to replace Son`s freewheeling laissez-faire style. If it does these things, Softbank could still realize its dream of "building the global e-future." If not, the corporate upstart could become the largest and most painful disappointment of the Internet age.
"They`re stretching themselves too thinly. They need to focus," says Lee Yen Anderson, an analyst with Indosuez W.I. Carr Securities in Tokyo. "Otherwise they`ll have to write off a lot of investments and shareholders will never see a profit."
Masayoshi Son`s own garage story goes back to his founding of Softbank as a software distributor in Japan in 1981. Nothing much was heard from the company until 1994, when it listed on Japan`s over-the-counter market. In the next two years, Son made waves by buying U.S. computer-trade show and publishing concern Ziff-Davis, as well as memory-board maker Kingston Technology. But those investments went badly wrong. Softbank paid roughly $3.5 billion for them, only to sell them a few years later for about $1.7 billion.
Son was saved, however, by his U.S. venture-capital chiefs, who, in 1995, discovered a little-known portal called Yahoo!. Softbank has lived off its spectacularly successful $433 million investments in Yahoo! and its Japanese arm ever since. Its stakes in the companies were worth $13 billion by early November, accounting for more than two-thirds of the value of Softbank`s listed holdings.
Softbank has had other successful IPOs, to be sure. These include computer anti-virus specialist Trend Micro in Japan, and telecoms-equipment maker UTStarcom in the United States. It has also successfully brought other branded U.S. companies to Japan such as on-line brokerage E*Trade (see page 67).
But more often than not, Softbank`s public offerings have been a flop. Shares in PeoplePC, a much-touted computer-services provider, have fallen to nearly a third of their offer price since its listing in August (see page 68). Its Internet infrastructure listing, Asia Global Crossing, has remained at its already low October offering price. Sure, a lot of Internet IPOs have failed spectacularly in recent times, but Softbank was supposed to be different; it was the apostle of the Internet. By the REVIEW`s estimate (Softbank itself wouldn`t provide a figure) only a handful of the company`s roughly two dozen listed holdings in the U.S. are making money.
"A lot of people think Softbank was lucky, had a great success in Yahoo!, and it is now in the process of losing a lot of money over time," says Fred Hickey, publisher of The High-Tech Strategist, an influential New Hampshire-based investment newsletter.
In the year to March, Softbank`s net profits fell by nearly 80% to Yen8.4 billion ($77 million) because of reduced proceeds from sales of venture investments. That figure is expected by Indosuez W.I. Carr Securities to recover to around $120 million this year, mainly on the back of investment-fund management fees and an end to losses at the now-disposed-of Ziff-Davis.
But the bear market, which Softbank U.S. venture chief Rieschel believes could last through 2001, is going to hit Softbank doubly hard. It makes it difficult if not impossible for the company to make listings without significant write-downs. It also means it cannot sell shares in listed holdings without setting off a downward share-price spiral (see page 65).
There are also worries about double taxation. Softbank pays twice on gains from disposals of U.S. shares, once in the U.S. and again in Japan. The rates vary, but on average the company has paid taxes of about 40% on its gains from U.S. venture investments. Taken together, the weak market and the double tax mean that Softbank`s $19 billion worth of listed holdings (as of early November) could easily be valued at closer to $4 billion, according to Benjamin Wedmore of HSBC Securities in Tokyo. On that calculation, Softbank`s total market value of $23 billion looks generous.
Potential operating losses from its takeover of Nippon Credit Bank also cloud its balance sheet (see page 66). As Commerzbank Securities wrote in an October 10 report that lowered Softbank`s rating: "Investing in the parent company carries the risks associated with its unprofitable businesses and the uncertainty surrounding NCB."
Where is Softbank`s earnings growth supposed to come from? In theory, Softbank should be making more and more money from the operations of its long-term core holdings. Son and his lieutenants claim they are building an Internet giant to outlast the Roman Empire, not just a big venture-capital outfit. Yet Softbank`s operating profits have been falling steadily since 1997. In the year to March, they accounted for just a quarter of pretax profits, down from 100% in 1996, with a large part coming from the company`s old-time software-distribution business.
Softbank`s long-term goals change so regularly that investors are understandably confused. Son says broadband and business-to-business, or B2B, Internet plays will be the building blocks of the company`s long-term future. Other ideas pushed by his U.S. executives include on-line financial services, wireless technology and Internet infrastructure.
Softbank nonetheless owns stakes in some of the key players of these five Internet subsectors (see chart on page 56). In October, it spent $40 million for a 40% stake in the new Japanese arm of U.S.-based e-commerce enabler Ariba. Son calls it one of the most important partnerships Softbank has ever had. Its on-line brokerage, E*Trade Japan, is both profitable and the biggest in Japan. And Asia Global Crossing, despite its poor listing, remains in contention to be one of the region`s biggest Internet backbones.
But Softbank has had little success finding long-term operating companies outside Japan. It is in any case questionable whether the five chosen areas are too broad for a company with just six top managers to handle. Additionally, wireless and infrastructure are likely to remain big money-eaters for several years.
CROSS-TALK
Besides that, interviews reveal a lot of internal confusion among Softbank executives about what other sectors the company should be investing in. Rieschel, for example, disparages niche consumer Web sites. "I`m sorry, do you really need 17 companies that you can buy watches from on-line?" he says. But just two days earlier, Softbank`s U.S.-based head of international venture capital, Eric Hippeau, talked enthusiastically about Softbank`s investment in an on-line diamond company that sells watches over the Net. Softbank`s China venture arm, meanwhile, has a stake in a niche site for weddings, 51Marry.
Rieschel also says business-to-business exchanges are out because they can`t generate revenues. Yet Junichi Goto, the head of Softbank`s Hong Kong arm, says he`s building a business-to-business exchange for chemicals on the remains of the dyestuffs company that Softbank acquired to gain a listing in Hong Kong. The exchange, he says, "is going to provide the platform for Softbank`s expansion in Asia."
There are also some conflicting investments within the portfolio. China-based B2B exchange Alibaba, for example, held by Softbank`s China venture arm, is in direct competition with MeetChina.com, held by its Hong Kong-listed subsidiary. "We`re in the process of trying to clarify this conflict," says Chauncey Shey, president of Softbank China Venture Capital. Softbank Inc.`s Fisher acknowledges that the group`s long-term direction isn`t crystal clear. But he promises that "over the next year you`ll see us making some selections" on long-term holdings.
OPAQUE ACCOUNTING STANDARDS
Even with a focused investment strategy, Softbank faces some major organizational challenges. While its promotional literature divides the company into six clear operating units--e-commerce, finance, broadband, media, infrastructure and global investment funds--in practice, there appears to be little in the way of structure.
Unlike CMGI and PCCW, Softbank has no plans to release separate accounts for its operating units or offer shares in them. Son says this is to keep Softbank`s taxes down and to allow him greater flexibility without worries about minority shareholders. But HSBC`s Wedmore says the real reason is that Softbank simply lacks any clear organization. "They just draw a blue pencil around a different set of boxes," when they restructure, he says.
The lack of internal organization may also explain Softbank`s legendary lack of transparency. It took the Review several weeks of fruitless phone calls and a final door-stepping exercise to obtain a copy of the company`s annual report. Analysts throw their hands in the air when trying to value the company because of the lack of information. Six months after a three-for-one stock split at the end of April, the company`s Web site still hasn`t been updated to reflect the development.
The company`s accounting practices, meanwhile, are confusing. It doesn`t consolidate results from several loss-making companies that it directly or indirectly controls, including Global Sports, a U.S. on-line sales enabler for sporting goods, and the Japan arm of on-line insurance broker InsWeb. Nor does it tell investors which companies produced its operating profits--the results are presented by division only. And Softbank itself doesn`t even hazard a guess about what its profits will be in the year ahead.
Son acknowledges the need to open up in terms of meeting media and investment analysts more often. But he argues that Softbank needs to keep a lot of information about its investments out of the public eye. "Our competitors would increase their competing actions if we open up that kind of information too much," he says. As for management, Rieschel says Softbank needs about 30 top-level executives to strategize its future instead of the current six who also manage its diverse portfolio. "It`s too thin," he says.
Yet Son appears reluctant to bring in more senior personnel. The reluctance to decentralize may owe partly to the low-key rivalry between Son and the head of Softbank Finance, Yoshitaka Kitao, who has riled Son with critical statements about the viability of Nasdaq Japan and Nippon Credit, both units of Softbank. In October, staffing at the central headquarters was boosted to 50 from just eight as the office took over accounting, financial oversight and legal duties from its subsidiaries, including Softbank Finance.
The way out for Softbank is clear: more disclosure, less hype, a robust corporate organization, and a more focused investing strategy. Those are sobering challenges. Yet rather than confront them head on, Son continues to talk giddily like a fallen rebel, lying across the bloody barricades of a faltering revolution: "Ten, twenty, or thirty years from now people will realize that we were the ones who always talked about the importance of this revolution," he says.
Son may be right about the revolution. The question is whether Softbank will be there to greet the new dawn.
Quelle: Far Eastern Economic Review
(Referenz: www.internetventure.de, Board-Eintrag von Flugente)
The Man Who Would Be King
Having built Japan`s biggest software wholesaler into an Asian Internet colossus, Son has watched a souring market, questionable investments and the lack of a coherent strategy take the sheen off Softbank Corp.
By Chester Dawson/TOKYO
Issue cover-dated November 16, 2000
MOST PEOPLE KNOW Masayoshi Son, the 43-year-old head of Internet powerhouse Softbank, as one of the world`s richest men. Fewer are aware of his humble upbringing, literally on the wrong side of the tracks. Son`s childhood home was a makeshift structure built on the side of a railway owned by the former national rail company in rural southwestern Japan. His birth certificate has no street address. As an ethnic Korean whose grandfather worked in the coal mines of Kyushu, he faced plenty of schoolyard taunting and learned early on that it wouldn`t be easy winning acceptance in Japan`s close-knit and status-conscious society.
Son appears to bear remarkably few scars--or ill will--from the discrimination he suffered. In fact, he says half-jokingly that having a Korean surname may have helped him stand out from the crowd as a young entrepreneur. Yet one form of prejudice he encountered when starting out appears to have irked him more than any other: repeated rejections for bank loans because of his non-Japanese name. Frustrated, Son had to find alternative sources of funding such as bond and equity-based financing and loans from insurers instead of banks. This could also be part of the reason why, two decades after blue-chip lenders closed their doors to him, he now owns one.
Softbank plans to reinvent the failed Nippon Credit Bank, renamed Aozora Bank, as a provider of seed capital to start-ups. In many ways, NCB was a trophy purchase marking his arrival in the major leagues of Japanese business. But it also reflects a deep passion for fixing what he sees as a weakness in the Japanese economy--a serious dearth of funding for entrepreneurs.
Son makes no secret that he views himself as being in the vanguard of a movement to shake up the status quo and make crusty Japan Inc. more open to outsiders. "In order for us to be successful in our information revolution, we have to change Japan," he says. Setting that kind of far-reaching goal is classic Son. So is a penchant for big risk-taking. He could easily walk away from critics and retire comfortably on the gains from farsighted early investments in the Yahoo! franchise. Instead, he is seeking to make a deeper mark as an Internet kingpin and self-described revolutionary.
Son`s relentless drive, honed during his years as a maverick entrepreneur, is reflected in hobbies outside work. In addition to golf with business partners and spending time with his wife and children, Son enjoys an occasional round of "Street Fighter" on his PlayStation videogame console. He`s also fascinated with great historical figures; his bedside reading list is heavy on biographies of brilliant tacticians such as Chinese philosopher Sun Tzu, American oil baron John D. Rockefeller, Japanese warlord Oda Nobunaga and Mongol conqueror Ghengis Khan. Son says the key factors for success "are the same no matter whether it`s business or revolution or history or politics or whatever."
Those factors include a knack for innovation and sensing opportunity. Son acquired his first taste of success as an undergraduate student at the University of California at Berkeley in the late 1970s. In his spare time, he built a business selling used Japanese videogames to American pizza parlours. Later, Son pocketed $1 million selling his designs for a pocket-sized translation device to electronics maker Sharp. He used those funds in 1981 to set up Softbank. A pioneer in Japan`s software-distribution business, the company quickly became the country`s largest wholesaler of software titles during the 1980s. In the 1990s, it enabled Son to finance his first strategic investments in promising Internet plays.
Son`s disdain for nemawashi, or traditional Japanese consensus-building, and his penchant for rhetorical flourishes haven`t endeared him to everyone, especially in his home country. Many in Tokyo`s big-business establishment are known to look down on him as an outspoken publicity hound. Some sceptics in the investment community and media see him as little better than a modern-day snake-oil salesman.
Indeed, Son is the first to admit that some of his more eccentric business ideas never took off. An early example of one such flop was the styrofoam toilet-seat cover, a product he says he patented in the late 1970s. "I still think it`s a good idea. It`s disposable, soft and very sanitary," he says today. Yet Son is probably wise to focus his creative energies not on soft seats but on Softbank and his long-term business strategy.
Son spoke about those issues, and the infotech stock downturn, in a recent interview with REVIEW technology editor Charles Bickers and Tokyo bureau chief Chester Dawson at Softbank`s headquarters in Tokyo. Excerpts:
DO YOU WORRY ABOUT THE DIRECTION OF GLOBAL STOCKMARKETS? COULD THAT AFFECT THE PACE OF YOUR SELF-DESCRIBED "SPEED INVESTMENT" STRATEGY?
That`s a short-term issue. It`s like the beginning of the automobile industry or the beginning of telephones or TVs. If you look at all of those major investments of mankind, how many years did they take to become profitable? Of course, they were not profitable [initially] because there was not enough content, not enough infrastructure. But once it becomes profitable, it grows for so many years. The Internet is something like that.
DOES SOFTBANK HAVE AN IMAGE PROBLEM?
We should always learn from our lessons, from our history. Once there was big criticism about our organization: not open enough or transparent enough. That was not our intent at all, but if people say that then we should increase our effort to make it easier for people to understand. So this is just a part of our improvement.
HOW MUCH OF SOFTBANK`S OWN MONEY IS INVESTED IN ITS NETWORK OF 450 AFFILIATES?
The total money on pure Internet companies that we have invested so far is about $2.5 billion. We`ve cashed out $3 billion, so we`ve already got all the money back . . . out of the 30 IPOs. So we still have 420 pre-IPOs. I would say compared to any other VCs or other investment holding companies, we are doing very well--even with this current stockmarket.
WHAT IS THE TOTAL AMOUNT OF MONEY INVOLVED, INCLUDING SOFTBANK`S OWN CAPITAL AND MONEY FROM OUTSIDE INVESTORS?
The total fund size is about $6 billion.
WILL B2B REALLY TAKE OFF IN JAPAN?
Definitely. Definitely.
BUT A LOT OF JAPANESE TRADING COMPANIES SAY B2B WILL GROW ONLY A LITTLE BIT . . .
They don`t understand. They don`t understand. And it`s sad. But it`s a great opportunity for us. When something big happens, the reaction in the beginning is so small. Do you know the market cap of Ariba in the U.S.? Did you know that Ariba is the fastest-growing [company] in market cap in American history? Did you know that they were $200 million in IPO value last year--June last year? Today, they are $32 billion. Over one hundred-fifty times [bigger] in one year and three months.
HOW DO YOU RECONCILE THE PURCHASE OF A MAJOR JAPANESE BRICKS-AND-MORTAR BANK WITH SOFTBANK`S AIM OF BECOMING A PURE INTERNET ZAIBATSU?
The NCB and Nasdaq Japan is a little bit different from our pure Internet investments. It is helping change, reshape Japan. In order to make our digital-information revolution successful, we have to reshape the Japanese business environment. Japan is one of the most important markets for us. About half of our total investments and activities are in Japan, so in order for us to be successful in our information revolution, we have to change Japan.
-------------------
Zu Softbank:
NEW ECONOMY
Internet Warrior On the Defensive
Masayoshi Son`s Softbank is the world`s boldest attempt to create a New Age empire of Internet businesses. But these days Son looks less like a conquering hero, and his empire is a jumble of disparate interests that outsiders find hard to fathom
By Bruce Gilley/HONG KONG, Chester Dawson/TOKYO and Dan Biers/LOS ANGELES
Issue cover-dated November 16, 2000
IF THERE WAS EVER a time when the hopes of a whole generation of entrepreneurs were riding on the fortunes of one company, it is now. The entrepreneurs are the builders of the New Economy. The company is Japan`s Internet giant, Softbank Corp. To the builders of the New Economy, Softbank is the dream of a super-connected and super-profitable Internet juggernaut.
Until recently, that dream was alive and well. Softbank and its founder, Masayoshi Son, were the toasts of Asia. When its shares peaked in February, the company was worth $190 billion. Investment bank Lehman Brothers said the figure would double by year`s end, making it equivalent to 8% of Japan`s GDP.
But today, Softbank has stumbled. The company is worth just $23 billion, and Son, who used to affect a gentle professionalism, is sounding more like a frustrated evangelist: "This is like a religion, OK? You believe in one big theme, no matter whether people understand it or don`t understand it," he told the REVIEW in a recent interview.
In the pages that follow, the REVIEW peers deep into Softbank`s predicament. It`s a story that echoes around the world because few companies anywhere are so heavily and widely committed to the Internet business. Softbank manages about $6 billion through 11 venture-capital funds worldwide, half of it from outside investors. Directly and through its funds, it has stakes in roughly 450 Internet companies globally. In the words of Ronald Fisher, Softbank`s main man outside Japan as vice-chairman of U.S.-based Softbank Inc., the company is "the largest and broadest-based participant in the Internet economy." It`s also a model for Internet zaibatsu elsewhere, including Hong Kong`s Pacific Century CyberWorks and U.S.-based CMGI.
NEED TO FOCUS
The news is not good. A lengthy investigation of Softbank by a team of REVIEW reporters, including interviews with Son and other top Softbank executives, reveals a company pursuing different agendas and at times even groping for direction. Its vast store of Internet-related investments shows few signs of coming together to form the basis of a coherent and durable operating company in the near future. By most estimates, it still makes most of its operating profits from distributing software. Organizational weaknesses and confusion over strategy are partly to blame. So too is Son`s penchant for rapid-fire deal-making.
In the meantime, the downturn in Internet stocks worldwide is hampering Softbank`s ability to raise money, weakening an already deteriorating balance sheet. Even the California cool of Softbank`s U.S. venture-capital head Gary Rieschel doesn`t conceal the need for firm action. "People need to have some comfort that someone`s got their hand on the tiller," says Rieschel. "Masa has to respond to that."
Softbank isn`t the only putative Internet giant struggling with the shortcomings of the broad-brush approach to investing in a tumultuous industry. Besides PCCW and CMGI, other firms like U.S.-based Internet Capital Group have taken a similar approach, and suffered for it. But to varying degrees, companies like CMGI and ICG have already changed course by announcing more-focused strategies and expanded disclosure. Softbank has yet to take up that challenge.
The immediate need, analysts say, is for Softbank to zero in on certain sectors of the Internet rather than try to be all things to all people. Closely related is the need for more disclosure and less hype to attract investors. That could mean putting in place a better financial and organizational structure to replace Son`s freewheeling laissez-faire style. If it does these things, Softbank could still realize its dream of "building the global e-future." If not, the corporate upstart could become the largest and most painful disappointment of the Internet age.
"They`re stretching themselves too thinly. They need to focus," says Lee Yen Anderson, an analyst with Indosuez W.I. Carr Securities in Tokyo. "Otherwise they`ll have to write off a lot of investments and shareholders will never see a profit."
Masayoshi Son`s own garage story goes back to his founding of Softbank as a software distributor in Japan in 1981. Nothing much was heard from the company until 1994, when it listed on Japan`s over-the-counter market. In the next two years, Son made waves by buying U.S. computer-trade show and publishing concern Ziff-Davis, as well as memory-board maker Kingston Technology. But those investments went badly wrong. Softbank paid roughly $3.5 billion for them, only to sell them a few years later for about $1.7 billion.
Son was saved, however, by his U.S. venture-capital chiefs, who, in 1995, discovered a little-known portal called Yahoo!. Softbank has lived off its spectacularly successful $433 million investments in Yahoo! and its Japanese arm ever since. Its stakes in the companies were worth $13 billion by early November, accounting for more than two-thirds of the value of Softbank`s listed holdings.
Softbank has had other successful IPOs, to be sure. These include computer anti-virus specialist Trend Micro in Japan, and telecoms-equipment maker UTStarcom in the United States. It has also successfully brought other branded U.S. companies to Japan such as on-line brokerage E*Trade (see page 67).
But more often than not, Softbank`s public offerings have been a flop. Shares in PeoplePC, a much-touted computer-services provider, have fallen to nearly a third of their offer price since its listing in August (see page 68). Its Internet infrastructure listing, Asia Global Crossing, has remained at its already low October offering price. Sure, a lot of Internet IPOs have failed spectacularly in recent times, but Softbank was supposed to be different; it was the apostle of the Internet. By the REVIEW`s estimate (Softbank itself wouldn`t provide a figure) only a handful of the company`s roughly two dozen listed holdings in the U.S. are making money.
"A lot of people think Softbank was lucky, had a great success in Yahoo!, and it is now in the process of losing a lot of money over time," says Fred Hickey, publisher of The High-Tech Strategist, an influential New Hampshire-based investment newsletter.
In the year to March, Softbank`s net profits fell by nearly 80% to Yen8.4 billion ($77 million) because of reduced proceeds from sales of venture investments. That figure is expected by Indosuez W.I. Carr Securities to recover to around $120 million this year, mainly on the back of investment-fund management fees and an end to losses at the now-disposed-of Ziff-Davis.
But the bear market, which Softbank U.S. venture chief Rieschel believes could last through 2001, is going to hit Softbank doubly hard. It makes it difficult if not impossible for the company to make listings without significant write-downs. It also means it cannot sell shares in listed holdings without setting off a downward share-price spiral (see page 65).
There are also worries about double taxation. Softbank pays twice on gains from disposals of U.S. shares, once in the U.S. and again in Japan. The rates vary, but on average the company has paid taxes of about 40% on its gains from U.S. venture investments. Taken together, the weak market and the double tax mean that Softbank`s $19 billion worth of listed holdings (as of early November) could easily be valued at closer to $4 billion, according to Benjamin Wedmore of HSBC Securities in Tokyo. On that calculation, Softbank`s total market value of $23 billion looks generous.
Potential operating losses from its takeover of Nippon Credit Bank also cloud its balance sheet (see page 66). As Commerzbank Securities wrote in an October 10 report that lowered Softbank`s rating: "Investing in the parent company carries the risks associated with its unprofitable businesses and the uncertainty surrounding NCB."
Where is Softbank`s earnings growth supposed to come from? In theory, Softbank should be making more and more money from the operations of its long-term core holdings. Son and his lieutenants claim they are building an Internet giant to outlast the Roman Empire, not just a big venture-capital outfit. Yet Softbank`s operating profits have been falling steadily since 1997. In the year to March, they accounted for just a quarter of pretax profits, down from 100% in 1996, with a large part coming from the company`s old-time software-distribution business.
Softbank`s long-term goals change so regularly that investors are understandably confused. Son says broadband and business-to-business, or B2B, Internet plays will be the building blocks of the company`s long-term future. Other ideas pushed by his U.S. executives include on-line financial services, wireless technology and Internet infrastructure.
Softbank nonetheless owns stakes in some of the key players of these five Internet subsectors (see chart on page 56). In October, it spent $40 million for a 40% stake in the new Japanese arm of U.S.-based e-commerce enabler Ariba. Son calls it one of the most important partnerships Softbank has ever had. Its on-line brokerage, E*Trade Japan, is both profitable and the biggest in Japan. And Asia Global Crossing, despite its poor listing, remains in contention to be one of the region`s biggest Internet backbones.
But Softbank has had little success finding long-term operating companies outside Japan. It is in any case questionable whether the five chosen areas are too broad for a company with just six top managers to handle. Additionally, wireless and infrastructure are likely to remain big money-eaters for several years.
CROSS-TALK
Besides that, interviews reveal a lot of internal confusion among Softbank executives about what other sectors the company should be investing in. Rieschel, for example, disparages niche consumer Web sites. "I`m sorry, do you really need 17 companies that you can buy watches from on-line?" he says. But just two days earlier, Softbank`s U.S.-based head of international venture capital, Eric Hippeau, talked enthusiastically about Softbank`s investment in an on-line diamond company that sells watches over the Net. Softbank`s China venture arm, meanwhile, has a stake in a niche site for weddings, 51Marry.
Rieschel also says business-to-business exchanges are out because they can`t generate revenues. Yet Junichi Goto, the head of Softbank`s Hong Kong arm, says he`s building a business-to-business exchange for chemicals on the remains of the dyestuffs company that Softbank acquired to gain a listing in Hong Kong. The exchange, he says, "is going to provide the platform for Softbank`s expansion in Asia."
There are also some conflicting investments within the portfolio. China-based B2B exchange Alibaba, for example, held by Softbank`s China venture arm, is in direct competition with MeetChina.com, held by its Hong Kong-listed subsidiary. "We`re in the process of trying to clarify this conflict," says Chauncey Shey, president of Softbank China Venture Capital. Softbank Inc.`s Fisher acknowledges that the group`s long-term direction isn`t crystal clear. But he promises that "over the next year you`ll see us making some selections" on long-term holdings.
OPAQUE ACCOUNTING STANDARDS
Even with a focused investment strategy, Softbank faces some major organizational challenges. While its promotional literature divides the company into six clear operating units--e-commerce, finance, broadband, media, infrastructure and global investment funds--in practice, there appears to be little in the way of structure.
Unlike CMGI and PCCW, Softbank has no plans to release separate accounts for its operating units or offer shares in them. Son says this is to keep Softbank`s taxes down and to allow him greater flexibility without worries about minority shareholders. But HSBC`s Wedmore says the real reason is that Softbank simply lacks any clear organization. "They just draw a blue pencil around a different set of boxes," when they restructure, he says.
The lack of internal organization may also explain Softbank`s legendary lack of transparency. It took the Review several weeks of fruitless phone calls and a final door-stepping exercise to obtain a copy of the company`s annual report. Analysts throw their hands in the air when trying to value the company because of the lack of information. Six months after a three-for-one stock split at the end of April, the company`s Web site still hasn`t been updated to reflect the development.
The company`s accounting practices, meanwhile, are confusing. It doesn`t consolidate results from several loss-making companies that it directly or indirectly controls, including Global Sports, a U.S. on-line sales enabler for sporting goods, and the Japan arm of on-line insurance broker InsWeb. Nor does it tell investors which companies produced its operating profits--the results are presented by division only. And Softbank itself doesn`t even hazard a guess about what its profits will be in the year ahead.
Son acknowledges the need to open up in terms of meeting media and investment analysts more often. But he argues that Softbank needs to keep a lot of information about its investments out of the public eye. "Our competitors would increase their competing actions if we open up that kind of information too much," he says. As for management, Rieschel says Softbank needs about 30 top-level executives to strategize its future instead of the current six who also manage its diverse portfolio. "It`s too thin," he says.
Yet Son appears reluctant to bring in more senior personnel. The reluctance to decentralize may owe partly to the low-key rivalry between Son and the head of Softbank Finance, Yoshitaka Kitao, who has riled Son with critical statements about the viability of Nasdaq Japan and Nippon Credit, both units of Softbank. In October, staffing at the central headquarters was boosted to 50 from just eight as the office took over accounting, financial oversight and legal duties from its subsidiaries, including Softbank Finance.
The way out for Softbank is clear: more disclosure, less hype, a robust corporate organization, and a more focused investing strategy. Those are sobering challenges. Yet rather than confront them head on, Son continues to talk giddily like a fallen rebel, lying across the bloody barricades of a faltering revolution: "Ten, twenty, or thirty years from now people will realize that we were the ones who always talked about the importance of this revolution," he says.
Son may be right about the revolution. The question is whether Softbank will be there to greet the new dawn.
Quelle: Far Eastern Economic Review
(Referenz: www.internetventure.de, Board-Eintrag von Flugente)
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