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

To: Labrador who wrote (2386)	11/17/1999 10:28:00 AM
From: Netwit	Respond to of 6018

Article from an online zine called Japan Marketmaker Softbank Still Bleeding APMI Softbank continues to lose money and continues its internet focused restructuring. In May 1999 Softbank reported current account losses for the fiscal year ending in March 1999 and a restructuring plan for the fiscal year ending in March 2000. The restructuring plan, which calls for the company to sell off its non-internet related businesses and streamline its is making slow if painful progress, but the company is still losing money. In the first half of the year (April to September 1999) Softbank lost Y11.3 billion (US$107.4 million; up almost 500% over the same period in 1998) on revenues of Y201.7 billion (US$1.9 billion; down 18%). Softbank says it also lost over Y80 billion (US$760 million) on the sale of its holdings in Kingston Technologies, a chip manufacturer. Plans announced earlier this year to sell Ziff Davis are still in the works, but no concrete proposals have been discussed publicly. softbank.co.jp