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Technology Stocks : Softbank Group Corp

SFTBY 70.44

-3.2%

Nov 7 9:30 AM EST

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To: TobagoJack who wrote (2317)	11/11/1999 4:28:00 AM
From: Edwin S. Fujinaka	Read Replies (1) of 6018

Yesterday's US close at $522. Last night's Tokyo close at $546. Frankfurt early trading at $553. A nice progressive around the World price rise. Another clipping from Nikkei Net: Thursday, November 11, 1999 Softbank To Embrace Market Value Accounting For U.S. Unit TOKYO (Nikkei)--Softbank Corp. (9984) will adopt from this fiscal year an accounting method that values securities holdings at market rather than book prices for U.S. subsidiary Softbank Capital Partners LP. The venture capital firm is sponsored by Softbank, which holds an equity interest of 50% or 600 million dollars. Set up in July with 1.2 billion dollars in funds, it invests in the shares of Internet-related start-ups that are likely to go public in three to six months, aiming to reap capital gains after they do so. The move is intended to bring the new outfit's accounting practices in line with U.S. standards. From the end of this fiscal year, valuation profits and losses on listed shares held by Softbank Capital Partners will be disclosed, but those on the shares of unlisted companies will not. Softbank will include the company in its consolidated earnings report from this fiscal year, and some industry insiders are concerned that adding Softbank Capital Partners may cause group results to swing wildly from year to year. (The Nihon Keizai Shimbun Thursday morning edition) Copyright 1999 Nihon Keizai Shimbun, Inc., all rights reserved.

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