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

To: Edwin S. Fujinaka who wrote (5178)	5/31/2000 10:25:00 PM
From: Edwin S. Fujinaka	Read Replies (1) \| Respond to of 6018

This old news story from last November on the takeover of the failed Nippon Credit Bank raised some interesting dangers for Softbank. Perhaps it is time to reevaluate whether Softbank really wants to get involved. At the time, Merrill Lynch suggested that the takeover might hurt Softbank's valuation. Perhaps there are other ways to "skin the cat" and Softbank's other banking connections might actually be a better way to accomplish their ends: Softbank set to take over Japanese bank Yuko Inoue -------------------------------------------------------------------------------- Tokyo, Nov 12: Japan's high-flying Internet investor Softbank Corp said on Friday it hopes to take over a large failed Japanese bank, a move analysts described as a change in direction down a possibly riskier path. The takeover news came as Softbank announced it had slippeddeeper into the red for the second straight interim period, beset by losses from the sale of a U.S. Subsidiary. Softbank, which up until now has aggressively invested insmall but safe Internet ventures, said it had filed a preliminary proposal to take over one of Japan's biggest problem banks, Nippon Credit Bank (NCB), with a team of major Japanese firms. Joining Softbank in its bid for NCB are Japan's mostprofitable retailing group Ito-Yokado Co, its biggest consumer financing company Orix Corp and its biggest casualty insurer Tokio Marine & Fire Insurance Co. The bid sparked fresh buying in Softbank's shares, alreadyone of the best-performing issues on the Tokyo Stock Exchange. The stock closed up 6.27 percent at 61,000, a record high for the sixth straight session. The announcement came just hours before Softbank unveiled aconsolidated current loss of 11.3 billion yen ($107 million) for the six months to September 30, after a 2.36 billion yen loss in the same period a year ago. The losses were smaller than its official Septemberforecasts, and Softbank said this was due to higher income at its Financial venture fund. NCB POSING A RISK? Some analysts wonder if taking over NCB, even with a team ofhigh-profile partners, is a risk for Softbank, which has said it wants to move into Internet-based banking either in cooperation with existing banks or by acquiring a conventional lender. Some are concerned that acquiring and operating NCB mayrequire large funds, or that the overall risks will be high. "It will be different from Softbank's earlier investments inthe virtual Net world. That (investing outside the Net) could be more profitable but means more risk," said Kota Nakako, an analyst at Warburg Dillon Read. Mahendra Negi, first vice president at Merrill Lynch inJapan, said the takeover may hurt Softbank's valuation. Copyright ¸ 1999 Indian Express Newspapers (Bombay) Ltd.

To: Edwin S. Fujinaka who wrote (5178)	5/31/2000 10:37:00 PM
From: badon518	Read Replies (2) \| Respond to of 6018

i'll give you that he's a sociopath-- and sociopaths, lacking any morality, have nerves of steel, which is why serial killers can do horrible things and show up for work like nothing happened. his history of leaving his allies in the lurch (remember what he did to the Democrats in congress in 93 and 94 who went out on a limb for him? That's why there's a GOP majority now). so if i were the prc folks, i'd be real careful about what it is exactly that i think i've bought from him and why clinton would act any more beholden to the prc than he would to anyone else who has done things for him.