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

To: Seeker of Truth who wrote (4720)	4/3/2000 4:28:00 AM
From: Edwin S. Fujinaka	Read Replies (1) \| Respond to of 6021

I was afraid that word of Softbank actually selling parts of it's long held portfolio might actually have a negative effect on the parent company's stock price. Besides the tax ramifications, there may be a perception that they are "eating their children". Much of Softbank's value and premium to their publicly traded portfolio is based on the notion that it is the interaction between the parts of Softbank that create much of the added value. The earlier sale of part of the Softbank holdings in Yahoo (USA) did not have any lasting impact. Although the Nikkei was up, I wonder if Obuchi's stroke may have had a negative impact on Softbank. As I recall, there was a close relationship between Obuchi and Son. The Nikkei Net had this story on the general market: Monday, April 3, 2000 Stocks: End Up On Tankan Data; Nikkei 225 Up 1.9% TOKYO (Dow Jones)--The Nikkei 225 stock average rallied Monday, as positive data in the Bank of Japan's March "tankan" survey of business sentiment buoyed expectations for higher share prices in the near term. The Nikkei marked the highest closing level since November 1996, ending up 1.9% at 20726.99. Local pension funds launched into active buying for the new fiscal year to March 2001, as signs of near-term market rallies prompted them to start buying for the new fiscal year earlier than usual, traders said. The Nikkei Stock Average of 225 selected issues rose 389.67 points Monday after a 104.18-point fall Friday. The near-term June Nikkei futures contract ended up 310 at 20710 on the Osaka Securities Exchange. On the Tokyo Stock Exchange's First Section, 764 issues rose, with 500 issues edging lower and 120 closing unchanged from Friday. The Topix index of all the TSE First Section issues rose 26.51 points to 1732.45. Volume on the First Section of the Tokyo Stock Exchange is estimated at 696.78 million shares, up from 514.36 million shares Friday. "Capital spending data (in the tankan survey) boosted expectations for an improvement in private-sector demand. Although the recovery in the major manufacturers' diffusion index was in line with market expectations, it also helped make prospects for an economic recovery clearer," said Kunihiro Hatae, general manager of equities at Tokyo Securities. In the tankan survey released Monday morning, large companies said they plan to reduce capital outlays by 0.6% on average during the current fiscal year started April 1, a smaller decrease than the 0.9% decline forecast by economists.