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Technology Stocks : Softbank Group Corp

SFTBY 54.94

+6.1%

Dec 3 3:59 PM EST

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To: Taikun who wrote (4773)	4/6/2000 5:37:00 AM
From: sunny	Read Replies (1) of 6020

i don't get it any more. another pre-announcement - bad news this time. Softbank warns of hefty group current loss (Reuters 04.06 10:29:10) TOKYO, April 6 (Reuters) - Japan's high-flying Internet investor Softbank Corp warned on Thursday it would fall deeper into the red on a group current basis in the just ended year, a move which analysts said could further undermine already shaky sentiment towards the company. Softbank said it would suffer a 55 billion yen ($525 million) consolidated current loss in the year to March 31, partly reflecting a 47.5 billion yen foreign exchange appraisal loss in yen-denominated debts held by its U.S. holding company. The loss would compare with a 15.45 billion yen group net loss in the previous year. Softbank's loss warning came after the market had closed. But Softbank's shares have been on a recent downtrend, hurt by a combination of factors including recent volatility in the U.S. Nasdaq market and fears that it is facing a funding crunch. Softbank, a core Tokyo Internet stock, ended on Thursday down 3,000 yen or 3.92 percent at 73,500. That is a drop of more than 60 percent from mid-February when it hit a record high 198,000. ($1=104.83 Yen) REUTERS S.RT 9984-T JP.R ASIA.R DPR.R RESF.R RES.R ELC.R BUS.R

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