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To: rudedog who wrote (142344)	9/20/1999 7:05:00 AM
From: Calvin	Read Replies (1) \| Respond to of 176387

Bloomberg Top Financial News Mon, 20 Sep 1999, 7:02am EDT Softbank Raises Earnings Forecast to Reflect Demand for Personal Computers By Peter Poole-Wilson Tokyo, Sept. 20 (Bloomberg) -- Softbank Corp., one of the world's biggest investors in Internet companies, raised its parent earnings forecast for the year ending March 31 to reflect growth in demand for personal computers and gains on sales of shares in Kingston Technology and Softbank Technology Corp. Tokyo-based Softbank, which has direct and indirect stakes in more than 100 companies doing business online, said it now expects parent earnings of 12 billion yen ($111 million) for the period, more than double the 5.50 billion yen it forecast in May. The company, founded by billionaire Masayoshi Son, projects sales of 105 billion yen, 17 percent more than the 90 billion yen previously forecast. ``Against a background of growth in demand for personal computers, sales and profit in our software and networking businesses moved in favorable directions,' the nation's largest distributor of computer software said in a statement. Softbank's software business got a boost from Japan's domestic PC shipments, which soared 38 percent in the three months ended June 30, lifted for a fourth straight quarter by strong growth in demand for PCs from individual consumers, the Japan Electronic Industry Development Association said. Softbank, which has accumulated more than $15 billion in unrealized gains on a series of early bets on fast-growing U.S. online ventures, three-fourths of which are accounted for by Yahoo! Inc. and E*Trade Group Inc., also gained from its decision in July to sell its 80 percent interest in closely held U.S. memory-chip-module maker Kingston. Softbank, founded in 1981 as a software distributor, said it will sell its 80 percent stake in closely held Kingston back to its two founders for $450 million, marking its withdrawal from the low-margin computer memory business. Softbank, which initially agreed to pay about $1.4 billion yen for the stake in September 1996, had the purchase price reduced by about $333 million in October 1997 to reflect deteriorating conditions in the global memory chip market. The company was also buoyed by the debut in July on Japan's over-the-counter market of subsidiary Softbank Technology Corp., when it rose almost nine-fold as investors attracted by the Softbank name and growth prospects for online business scrambled for a piece of the action. Shares in the Tokyo-based provider of support services for Internet business traded for the first time at 40,000 yen, 769 percent above their initial offering price of 4,600 yen. That valued the two-year-old company with sales of 5.4 billion yen at 130.8 billion yen. Softbank shares, which have risen about fivefold this year, rose 600 yen to 40,600. Softbank raised its earnings forecast after Japanese exchanges closed for the day.

To: rudedog who wrote (142344)	9/20/1999 8:45:00 AM
From: OLDTRADER	Read Replies (3) \| Respond to of 176387

RE:Rudedog-This thread kind-a lost it's zip when SI changed the format-What this thread needs is to have the participants who have cogent experienced input to be given proper respect and those that don't should lurk until they have a valuable bit of input.wbm-you know like children should be seen and not heard.I'm old school and not particularly politically correct either.wbm