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Technology Stocks : Softbank Group Corp

SFTBY 13.60

-4.0%

3:27 PM EST

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To: TobagoJack who wrote (163)	5/19/1999 4:28:00 AM
From: Edwin S. Fujinaka	Read Replies (3) of 6020

Softbank closed at around $123/share on the Tokyo Exchange. They reported earnings: Wednesday, May 19, 1999 Softbank FY98 Group Net Profit Gains On Yahoo! Stock Sales TOKYO (Dow Jones)--Softbank Corp. (9984) Wednesday reported a consolidated net profit of 37.54 billion yen for the fiscal year ended March, up sharply from 10.30 billion yen a year earlier due to profits from the sale of a portion of its shares in Yahoo! Inc. of the U.S. But Softbank posted a consolidated pretax loss of 15.45 billion yen, compared with profits of 24.27 billion yen a year earlier. Softbank said pretax earnings were hurt by losses and restructuring costs at its U.S. unit Ziff-Davis Inc., interest payments linked to loans taken out last year, and new investments in Internet businesses. Softbank didn't provide an outlook for consolidated earnings for the current fiscal year through March 2000 because it said forecasts for Ziff-Davis, which is listed on the New York Stock Exchange, weren't available yet. It said it would release a consolidated forecast as soon as those numbers were available.

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