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

To: Hans U. Tschanz who wrote (3329)	1/17/2000 4:09:00 AM
From: Edwin S. Fujinaka	Respond to of 6018

TSE up 2 1/2% at close and Softbank up the 5000 yen limit to an equivalent $912. This is still below the $915 close here in the US on Friday and the markets will be closed on Monday in the US for Martin Luther King Day. Schwab Global will be open in the morning anyway. Comment on the Softbank/Vertical Net venture from the VERT Board: beta.siliconinvestor.com To: Amein M. Alsuezi who started this subject From: HarveyO Monday, Jan 17, 2000 2:28 AM ET Reply # of 598 VerticalNet Announces Plans for Joint Venture With Softbank Commerce Corp. HORSHAM, Pa., Jan 17, 2000 (BUSINESS WIRE) -- VerticalNet Japan To Extend Business-to-Business Reach in Asia VerticalNet, Inc. (NASDAQ: VERT), the Internet's leading portfolio of business-to-business communities of commerce, announced that in Tokyo, Japan today, Softbank Commerce Corp., a wholly owned subsidiary of Softbank Corporation (Tokyo Stock Exchange 9984) announced plans for a Japanese joint venture between the two companies. The companies' plan is to launch B2B vertical communities in Japan. The new company - VerticalNet Japan Kabushiki Kaisha - would create a localized version of VerticalNet(R) trading communities for Japan's business-to-business Internet audience. The new services are expected to launch later in 2000. The Japanese version of VerticalNet is scheduled to offer many of the same features as the U.S. version with localized editorial content and community services to meet the needs of Japanese businesses. "VerticalNet represents the best of what business-to-business means to the Internet," said Masayoshi Son, President and Chief Executive Officer of Softbank. "Our partnership will accelerate the Internet's impact on how Asian businesses conduct transactions and expand markets in Japan." "I personally have been a fan of Softbank and their impact on the global growth of the Internet for many years," said Mark Walsh, VerticalNet President and Chief Executive Officer. " Announcing this initiative with Softbank is a big day for our company. They are a premier partner for our efforts to grow Internet business-to-business initiatives throughout Japan." About SOFTBANK CORP. (Tokyo Stock Exchange: 9984) has emerged as one of the world's leading Internet market forces. Through its ownership positions in more than 120 Internet companies and its unique Internet-zaibatsu management concept, it is able to create market synergies for its family of companies on a global scale. In Japan its activities encompass distribution, publishing, Internet media platforms, a broad range of e-commerce businesses, and joint ventures with companies including Microsoft, Cisco, Yahoo!, Nasdaq, and many other market leaders. In the U.S., SOFTBANK is the largest shareholder in leading Internet companies including Yahoo!, E*TRADE and ZDNet, and in Europe has established Internet joint ventures with News Corp. and Vivendi.