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

To: TobagoJack who wrote (5582)	11/26/2000 11:25:01 AM
From: ms.smartest.person	Read Replies (2) \| Respond to of 6020

Earnings Focus - Softbank Records First-Half Net Profit Of $326.9 Million After Restructuring November 24, 2000 Dow Jones Newswires TOKYO -- Softbank Corp. reported a sharp improvement in its earnings in the first fiscal half ended Sept. 30 from a year ago, helped by restructuring of an unprofitable U.S. subsidiary, as well as a foreign-exchange gain on loans it provided to a U.S. unit. The Internet business investor posted a group net profit of 36.31 billion yen ($326.9 million) for the six months ended Sept. 30, compared with a group net loss of 3.52 billion yen a year ago. It reported group revenue of 180.24 billion yen for the first fiscal half, down 10.6% from 201.58 billion yen. Softbank sold off the publishing division of U.S. Ziff Davis Inc., in which the Japanese firm had had a 62% stake, and spun off other divisions for mergers with CNET Networks Inc. and Key3Media Group Inc. Through the mergers Softbank obtained an 18% stake in CNET and a 55% stake in Key3Media, it said. The sale of Ziff-Davis Publishing sliced 42.0 billion yen off Softbank's group revenue, while a fall in Softbank's stake in ZDNet, formerly a division of Ziff-Davis, making it an unconsolidated affiliate, sliced 4.9 billion yen off Softbank's revenue, it said. Also, a drop in Softbank's stake in UTStarcom Inc. to a partial consolidation level from a full consolidation level due to UTStarcom's initial public offering sliced 9.3 billion yen off Softbank's revenues, it said. -------------------------------------------------------------------------------- URL for this Article: interactive.wsj.com -------------------------------------------------------------------------------- Copyright © 2000 Dow Jones & Company, Inc. All Rights Reserved. Printing, distribution, and use of this material is governed by your Subscription Agreement and copyright laws. For information about subscribing, go to wsj.com Subscription may be required to view article. Used with permission from The Wall Street Journal, WSJ.com. Copyright 200__ Dow Jones & Company, Inc. All rights reserved.