Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Edwin S. Fujinaka who wrote (5153)	5/26/2000 9:53:00 AM
From: TobagoJack	Read Replies (1) \| Respond to of 6020

Friday, May 26, 2000 Softbank Posts First-Ever On-Year Fall In Grp Revenues, Net Profits TOKYO (Dow Jones)--Softbank Corp. (9984) posted a group net profit of Y8.45 billion in the fiscal year ended March 31, down from Y37.54 billion a year ago, the Internet conglomerate said Friday. The company reported its first-ever on-year fall in group revenues and net profits amid moves to withdraw from unprofitable, non-Internet-related U.S. operations. Softbank reported group revenues of Y423.22 billion for the year, down from Y528.16 billion a year ago. The sale of Kingston Technology Co. trimmed Softbank's revenues, while the sale of part of Ziff Davis Inc.'s operations, as well as Kingston shares, hit Softbank with heavy capital losses, Softbank President Masayoshi Son told a news conference. The sale of Kingston trimmed Softbank's revenues by about Y130 billion, the revenue contribution Kingston made in the previous fiscal year, Softbank said. Softbank incurred a Y76.9 billion capital loss from the sale of Kingston and a Y119.1 billion loss on the sale of Ziff Davis' assets, the company said. Son also blamed the yen's appreciation for a Y47.5 billion loss in yen-based long-term lending to its fully-owned U.S. unit, Softbank Holdings Inc. Those losses led to a group pretax loss of Y51.93 billion in the fiscal year ended March, compared with a group pretax loss of Y15.45 billion a year ago, the company said. Nevertheless, Softbank managed to post a net profit, as it generated sizable gains from the sale of part of its shareholdings in Trend Micro Inc. (4704) and Softbank Technology Corp. (4726), both of which made successful initial public offerings during the just-ended fiscal year, Softbank said. Softbank generated a capital gain of Y127.6 billion on Trend Micro shares and a capital gain of Y80.3 billion on Softbank Technology, the company said. Softbank will pay a dividend of Y20.00 per share for the fiscal year ended March 31, unchanged from a year ago, the company said. For the current fiscal year ending March, 2001, Softbank aims to pay a dividend of Y7.00 per share, it said. Factoring in the 3-for-1 stock split the company will execute on June 23, Softbank's dividend target would be equivalent to Y21.00 per share this fiscal year, based on the current number of shares, the company added. Softbank doesn't provide earnings estimates, as it says its earnings are closely linked to market conditions. Softbank's holdings of publicly-traded shares carried a total unrealized profit of Y2.9 trillion as of Friday morning, down from Y4.8 trillion as of March 31. Softbank Corp. (9984) Year Ended March 31: GROUP 2000 1999 Revenue Y423.22 bln Y528.16 bln Operating Profit 8.38 bln 12.13 bln Pretax Profit -51.93 bln -15.45 bln Net Profit 8.45 bln 37.54 bln Per Share Earnings 78.05 365.38 Diluted earnings 76.05 342.11 Figures may differ from headline due to rounding. --------------------------------------------------------------------------------