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Non-Tech : E*Trade (NYSE:ET) -- Ignore unavailable to you. Want to Upgrade?

To: C.A. REYNOLDS who wrote (2970)	5/30/1998 8:41:00 PM
From: Robert Giambrone	Respond to of 13953

5/29 Softbank, ETrade to Set Up Joint Online Securities Company news.com Tokyo, May 30 (Bloomberg) -- Softbank Corp. and ETrade Group Inc. plan to set up an online securities company in Japan in a few months, Nikkei English News reported, citing people familiar with the transaction. The joint venture between Tokyo- based software-maker Softbank and Palo Alto, California-based online-securities company E*Trade will handle transactions for stocks, bonds, investment trusts and other financial products and provide corporate and stock-market data. The companies plan to hire former employees of now-defunct Yamaichi Securities Co. for their service, which will begin operation later this year when companies who want to sell securities are no longer required to get a license, NEN said. Earlier this month, Softbank forecast parent-company profit would fall to 7 billion yen ($50.3 million), or 68.35 yen a share, this fiscal year, from 13.7 billion yen for the year just ended March 31. (NEN 5/30 www.nikkei.co.jp/enews/) --Ruth Drennan in the Princeton newsroom (609) 279-4020/gfh -------------------------------------------------------------------------------- . c Copyright 1998, Bloomberg L.P. All Rights Reserved. The information herein was obtained from sources which Bloomberg L.P. and its suppliers believe reliable, but they do not guarantee its accuracy. Neither the information, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any securities or commodities bloomberg.com