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

To: Edwin S. Fujinaka who wrote (3734)	2/8/2000 4:31:00 AM
From: swisstrader	Read Replies (1) \| Respond to of 6018

Looks like a down day complements of dollar at new highs: AsiaMarkets Dollar rises to 5-month high; Nikkei ends lower By Mariko Ando, CBS MarketWatch Last Update: 1:41 AM ET Feb 8, 2000 World Markets StockWatch TOKYO (CBS.MW) -- The dollar was sharply higher against the yen in Tokyo Tuesday amid concerns over Japan's economic recovery. Tokyo stocks ended lower. The dollar further gained against the yen and was trading recently at 109.36 yen, up 0.76 yen from 108.60 yen in New York late Monday. It's the highest level in Tokyo since Sept. 10, when it rose as high as 110 yen. The dollar was quoted at 107.82 yen in late Monday in Tokyo. The yen dropped to a five-month low against the dollar amid fear that the Japanese economy may be hampered by a drop in consumer spending. Economic Planning Agency chief Taichi Sakaiya reiterated Tuesday that he expects Japan's economy to contract in the 1999 October-December quarter from the previous quarter. Sakaiya on Sunday warned in a television interview that Japan's gross domestic product may have shrunk by a considerable margin in the last quarter of 1999. In the stock market, Japan's benchmark Nikkei Average fell 76.55 points, or 0.38 percent, to close at 19,868.88, led by banking shares. In Australia, the benchmark All Ordinaries Index lost 6.40 points, or 0.20 percent, to close at 3,124.00. Gold mining stocks sank more than 3 percent on the day after rising 11.9 percent Monday. Hong Kong's Hang Seng Index rose 167.41 points, or 1.05 percent, to 16,135.53 boosted by heavyweight China Telecom (Hong Kong) (CHL: news, msgs)'s 11.8 percent rally. CITIC Pacific Ltd. climbed 5.26 percent to a year high of 40.00 Hong Kong dollars. Hutchison Whampoa Ltd (HUWHY: news, msgs) was up 1.3 percent to 117.00 Hong Kong dollars, after hitting 119.50. Malaysia's market climbed 23.46 points, or 2.45 percent, to 981.12 but South Korea's Kospi Index was down 1.01 percent to 963.34. Japan's banking shares lost ground, hit by Monday's news that Tokyo's metropolitan government is considering a 3 percent tax for five years on the gross business profits of financial institutions operating in Tokyo. Shares of Bank of Tokyo-Mitsubishi (MBK: news, msgs) lost 48 yen to 1,375 and Sanwa Bank (SANWY: news, msgs) sank 57 yen to 1,074. Fuji Bank (FUJPY: news, msgs) was down 55 yen to 1,000. Nagasakiya Co. tumbled 40 yen, or 30.5 percent, to 91 on the company's announcement Monday that its liabilities may exceed its assets by 16.5 billion yen ($151.3 million) on a consolidated basis and by 8.4 billion yen on a parent-only basis in the year ending February 29. Nissan Motor Co. (NSANY: news, msgs) lost 19 yen to 423 after Standard & Poor's downgraded its credit ratings on the company. Among other automakers, shares of Honda (HMC: news, msgs) gained 50 yen to 4,010. Toyota (TM: news, msgs) dropped 70 yen to 4,920. Technology shares ended on a weak note. Sony (SNE: news, msgs) sank 830 yen to 29,150. Hitachi (HIT: news, msgs) shed 8 yen to 1,635 and Matsushita Electric Industrial (MC: news, msgs) gave up 30 yen to 3,090. Mitsubishi Materials Corp. was down 32 yen to 338. Meanwhile, broadcasting shares rose, with shares of Tokyo Broadcasting System, Nippon Television Network and Fuji Television Network hitting fresh highs in the morning session.

To: Edwin S. Fujinaka who wrote (3734)	2/9/2000 2:10:00 AM
From: Taikun	Read Replies (1) \| Respond to of 6018

Live from the Corporate Venturing conference in Palm Springs...where Taikun was on a panel yesterday...today we heard again and again from panelists ranging from Dell to Cisco to Etrade to Novell to AOL that 100%+ IRR on their venture funds is the norm. Softbank, the largest corporate venturing fund in the world (except from maybe Intel), was not here as they were too busy doing deals at DEMO99, across town at the Hilton, where Marc Andresson's new company, Loudcloud, came out of stealth mode yesterday (Taikun sat beside head of sales on the plane from SFO on the way down, but he came out of stealth mode the night before...) . Sequoia's $200m fund has a NAV of $2.9bn after 1 year. Go figure. The Kleiner-Seqouia mob ranges strong! Intel and others use several hundred million dollar gains on IPOs to smooth out earnings q on q. M&A boutiques do a brisk business in relieving VCs of dogs in a portfolio after a year, since the VC wants to raise a new fund. Observations from the peanut gallery: 1. Most corporate VCs can't adequately compensate the folks running the program because they'll make more than the CEO (sorry to all the telecoms, France, Italia etc) 2. US Publicly traded VCs (CMGI, ICGE) have less flexibility under SEC rules than their European/Asian counterparts 3. Most corporations receive a valuation based on (a) brand value and (b) investment. Included with brand is management expertise, channel relationships etc. Unfortunately, the core business of the corporate restricts operations of the investee firm in most cases. 4. IMO, 9984 is immune from most of the above. Based on the above, and 9984's planned 700 portfolio companies, I'd look for a $1trillion+ plus market cap for 9984 (10x present) by 2002, over 1mYen/share. Sell early 'n weep! Man putting out the laundry on the clothesline in the garden. Wife kicks him in the leg, saying 'Thats for being a terrible lover'. Later, husband goes across yard to where wife is gardening and kicks in leg, saying 'Thats for knowing the difference' JMHO