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

To: mact who wrote (5296)	6/21/2000 5:22:00 AM
From: Edwin S. Fujinaka	Read Replies (2) \| Respond to of 6019

Kitao seems to be taking a different path. This is a little troubling and suggests that Kitao's earlier negative attitude towards NCB is still in place: Tuesday, June 20, 2000 Softbank Finance Not Interested In Working With NCB: Pres TOKYO (Nikkei)--Softbank Finance Corp. has no interest in running Nippon Credit Bank, which is being taken over by a group led by parent Softbank Corp. (9984), said Softbank Finance President Yoshitaka Kitao. "We see no merit in having our own bank, and have no intention of making use of NCB," Kitao said. Earlier, there had been speculation that once the NCB acquisition was made, the bank's trust unit, Nippon Credit Trust Bank, would be separated and used as an Internet bank. But Kitao flatly denied the idea. Softbank Finance sees difficulties in securing profit in Internet banking due to battles to offer higher interest rates to attract customers. Instead, the company is working with leading regional banks to help them establish branches online. Softbank Finance aims to conduct an initial public offering this fiscal year, and the comments by Kitao appear to signify the start of the company's distancing itself from its parent, analysts say. "As a listed company, we will aim for management that is not susceptible to the whims of our parent," Kitao said. (The Nikkei Financial Daily Tuesday edition)