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

To: LOGAN12 who wrote (3262)	1/12/2000 9:44:00 PM
From: Edwin S. Fujinaka	Read Replies (1) \| Respond to of 6018

A few more news items from Nikkei Net. Those comments on the direction of Nasdaq-Japan are particularly interesting. We appear to be moving from planning to detailed implimentation: Wednesday, January 12, 2000 Nasdaq-Japan To Use Internet-Based Trading System TOKYO (Nikkei)--The National Association of Securities Dealers announced Tuesday that it will introduce an Internet-based trading and market system to Nasdaq-Japan, the new stock market it will set up in June with Softbank Corp. (9984). Setting up the new system in Japan and Europe will strengthen Nasdaq's competitiveness against other markets, NASD Executive Vice President Gregor S. Bailar said. The U.S.-based NASD is the parent company of the Nasdaq stock market. The next-generation trading system will have full access to the Internet and handle trading in multiple languages and currencies. It will also offer a 24-hour online trading service for stocks listed on the U.S. Nasdaq and other markets. The system will be developed by IndigoMarkets, a joint venture to be formed by Nasdaq and SSI Technologies, a division of India's SSI Ltd. It is scheduled to be put in place by year-end. (The Nikkei Industrial Daily Wednesday edition) -------------------------------------------------------------------------------- Wednesday, January 12, 2000 Softbank Plans 50 Bln Yen Venture Cap Fund For Internet Firms TOKYO (Nikkei)--Softbank Corp. (9984) will in late March establish a 50 billion yen fund to invest in domestic start-ups in the Internet field, company sources said Wednesday. It will be Softbank's second venture capital fund, following a 12.3 billion yen pool created in July 1999, and the largest one targeted at Japanese firms operating in a single sector. Plans call for investing in about 500 small companies over the course of two years. Institutional and other investors will be invited to participate, with Softbank Investment Corp. handling all management and administration. Fund managers will target firms that can eventually be registered for trade on Nasdaq Japan, a stock market to be established by Softbank and the National Association of Securities Dealers of the U.S. Financial support will also be available to the companies so they can expand through alliances and mergers. (The Nihon Keizai Shimbun Thursday morning edition) Wednesday, January 12, 2000 Govt Scrambles To Finalize Takeover Deals For Failed Banks TOKYO (Nikkei)--Now that the government has approved the takeover of failed Kokumin Bank by Yachiyo Bank, attention is focusing on finding buyers for three other banks that have gone under. Among the four groups trying to purchase Nippon Credit Bank, a consortium led by Softbank Corp. (9984), Orix Corp. (8591) and Tokio Marine & Fire Insurance Co. (8751) seems to have gotten the inside track by offering better takeover conditions and future business plans. Nippon Credit collapsed in December 1998, four months before Kokumin Bank, and the Financial Reconstruction Commission wants to speed up the handover process. The other three groups are respectively headed by France's Paribas, Lehman Brothers Inc. and Cerberus Group, a U.S. investment fund. Meanwhile, a group led by Daiwa Bank (8319) will likely take the initiative in negotiating the purchase of Kofuku Bank and Namihaya Bank. Daiwa Bank is pushing to expand its presence in greater Osaka and will likely become the key to financial realignment in the region. Administrators charged with the financial reorganization of Kofuku Bank have already signed confidentiality agreements with several prospective buyers. Kofuku Bank failed in May 1999 and Namihaya Bank three months later. (The Nihon Keizai Shimbun Wednesday morning edition)