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Technology Stocks : Softbank Group Corp -- Ignore unavailable to you. Want to Upgrade?

To: Taikun who wrote (1992)	10/4/1999 8:25:00 AM
From: Edwin S. Fujinaka	Read Replies (1) \| Respond to of 6018

Softbank closes at around $275 in Tokyo and is about $276 in early European trading. This was on the Nikkei Net a few days ago about the October 1st happenings: Friday, October 1, 1999 M&A: Industrial Restructuring Moves Into High Gear TOKYO (Nikkei)--The first day of October should mark a major turning point for Japanese industry, which is expected to quicken the pace of restructuring through mergers, spin-offs and the establishment of holding companies. A stock-debt swap system also begins the same day under the revised Commercial Code. Kobe Steel Ltd. will spin off its construction machinery division on Oct. 1 and consolidate it with a subsidiary to form Kobelco Construction Machinery Co. Among other restructuring moves scheduled that day, the most notable are those having inefficient, unprofitable businesses. Toshiba Corp. (6502) and Mitsubishi Electric Corp. (6503) will set up a 50-50 joint venture to develop and manufacture large-capacity industrial motors, while Hitachi Zosen Corp. (7004) will spin off its main Ariake Works in Kumamoto Prefecture. There are also moves that combine spin-offs and corporate integration. Mitsubishi Chemical Corp. (4010) and Tokyo Tanabe Co. (4532) will merge and then spin off the new company's pharmaceutical business to form Mitsubishi-Tokyo Pharmaceutical Inc. Softbank Corp. (9984), which turned four divisions into separate subsidiaries in April, will spin off the software and network businesses on Oct. 1 and become a holding company. With the business recovery still remaining as an unrealized dream, companies are being urged to improve their profit margins and efficiency. The stock-debt swap system is aimed at helping companies push forward with structural reform, leading to the restructuring of entire industries. Sony Corp. (6758), for instance, will take advantage of the swap system to convert three listed affiliates into wholly owned subsidiaries, while Hikari Tsushin Inc. (9435) is considering various ways of utilizing the same system to accelerate mergers and acquisitions. The Law on Special Measures for Industrial Revitalization will also come into effect on Oct. 1, a day that will likely see the acceleration of corporate restructuring. (The Nihon Keizai Shimbun Friday morning edition) Copyright 1999 Nihon Keizai Shimbun, Inc., all rights reserved.