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SoftBank Group Corp. (9984.T)

Tokyo - Tokyo Delayed price. Currency in JPY
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6,793.00-114.00 (-1.65%)
At close: 3:15PM JST
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Previous close6,907.00
Open6,890.00
Bid6,793.00 x 0
Ask6,803.00 x 0
Day's range6,793.00 - 6,918.00
52-week range2,609.50 - 7,300.00
Volume14,443,100
Avg. volume16,838,650
Market cap12.766T
Beta (5Y monthly)1.55
PE ratio (TTM)N/A
EPS (TTM)-423.63
Earnings date09 Nov 2020
Forward dividend & yield44.00 (0.64%)
Ex-dividend date29 Sep 2020
1y target est13,753.00
  • Bloomberg

    SoftBank-Backed GetYourGuide Sells $134 Million Convertible Loan

    (Bloomberg) -- GetYourGuide Deutschland GmbH, a booking startup backed by SoftBank Group Corp., has raised 114 million euros ($134 million) via a convertible loan, after the pandemic continues to disrupt the travel industry.The investment was lead by private equity firm Searchlight Capital Partners, and existing investors including SoftBank’s Vision Fund, KKR & Co. and Temasek Holdings Pte also participated in the round, which will see the note converted to equity during the company’s next fund-raising event, Chief Executive Officer Johannes Reck said in an interview.GetYourGuide raised $484 million last year in an investment led by the Vision Fund. Reck said the new funds would help the company “make sure it came through the crisis not just with its cash savings but with fresh investment.” The CEO said the new investment does not change the company’s valuation, but last year’s funding pegged GetYourGuide’s worth at “well over” 1 billion euros.The Berlin-based company has been hit hard by the restrictions placed on leisure travel, which all but came to a halt as a result of the spread of Covid-19.Reck said he believes the company’s value proposition has become bigger, not smaller and the company will continue to build on its platform for when leisure travel returns. “We were under the impression the pandemic would last just a month or two,” Reck said. “No one had the faintest idea about the impact on the travel industry”.Read more: As Virus Hits Travel Market, a Startup Seeks Survival TipsReck said he expects intercontinental travel to remain modest, contributing just 9% of overall business next summer. But he also expects demand for domestic and regional travel to increase, and is planning to bring all its staff back to work by January.GetYourGuide has taken advantage of state aid and sent the bulk of its staff into so-called Kurzarbeit, a German program that involves the government partially offsetting wages lost when companies are forced to temporarily halt or reduce activities.(Updated headline, paragraph five.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • WeWork’s New CEO Is Eyeing an IPO Again — After He Turns Profit
    Bloomberg

    WeWork’s New CEO Is Eyeing an IPO Again — After He Turns Profit

    (Bloomberg) -- WeWork is on track to turn profitable in 2021 and will then revisit plans for an initial public offering, Chief Executive Officer Sandeep Mathrani said, a year after the startup’s IPO fiasco prompted the ouster of his predecessor.The office-sharing startup renegotiated leases, laid off staff and replaced management after Japan’s SoftBank Group Corp. took control. The business is bouncing back “100%” in certain Asian markets, including China, South Korea and Singapore, Mathrani told a small group of reporters in India on Wednesday.“I’m a big believer in one step at a time so let’s hit profitable growth first, and we’ll then revisit the IPO plan,” Mathrani said over a Zoom video conference call from New York. “Nazar na lag jaye,” he added, a Hindi expression to convey he didn’t want an evil eye cast on WeWork’s turnaround strategy.WeWork’s New CEO Says He Has ‘Plenty of Luck.’ He’ll Need ItWhen the IPO happens, all of WeWork’s units and franchisees around the world will roll into the parent as per existing agreements, Mathrani said. The startup’s valuation has tumbled more than 90% from its peak of $47 billion.The India-born Mathrani was brought in to get the controversial co-working startup back on track following the ouster of its flamboyant co-founder Adam Neumann. In his previous role, the new CEO had helped shopping-mall owner General Growth Properties emerge from bankruptcy. At WeWork, he took over just as the coronavirus pandemic led to global lockdowns and client exits from WeWork locations.Last week, Fitch Ratings lowered WeWork’s credit rating and warned the once high-flying startup could default on its obligations.WeWork Default Is a Real Possibility, Fitch Ratings WarnsMathrani, however, said the company is on track to hit profitability and produce free cash flow by 2021. WeWork is “100% done with rightsizing” after letting go of over 8,000 employees, about a third of its headcount, leading to a $1 billion in annual savings, he said. He added that a review of WeWork’s global locations is also 75% complete.“In Q1, we were at 66% occupancy; with the cost cuts that would be where we see cash coming in,” the chief executive said. “We will get to that level by next year.” The billions provided by SoftBank are still in its war chest, he said.Responding to a question, Mathrani said he frequently speaks to his predecessor, Neumann, who still holds a sizable stake.“We chitchat twice a month and the conversation is about the business,” the CEO said. “He wants to know what I’m doing.” Talking to Neumann helps “crystallize my own thought process.”Mathrani said WeWork does not owe Neumann any more money from the $185 million consulting deal SoftBank agreed to pay him as part of his much-criticized exit, Mathrani said“Our lawyers said we don’t owe him any money,” he said. “It’s between SoftBank, the other investors and him.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Indonesia’s Telkomsel Weighs Buying Gojek Convertible Debt
    Bloomberg

    Indonesia’s Telkomsel Weighs Buying Gojek Convertible Debt

    (Bloomberg) -- PT Telekomunikasi Selular, Indonesia’s biggest wireless network provider, is weighing investing in Gojek by buying $150 million of convertible bonds issued by the ride-hailing startup, according to people with knowledge of the matter.Telkomsel, a unit of state-owned PT Telekomunikasi Indonesia, has been in talks with Gojek on the matter for some time as part of a push to expand its digital business, said one of the people, who asked not to be identified as the process is private.Deliberations on the issue, including size and timing, are ongoing and there is no certainty that a deal will proceed, said the people. A representative from Gojek declined to comment.Telkomsel President Director Setyanto Hantoro said the company cannot comment on deals as it is bound by non-disclosure agreements, but it continues to seek opportunities to expand its services by building existing resources, borrowing via partnerships and buying external resources including startups.Telkomsel is the largest wireless carrier in the Southeast Asian nation with 171 million subscribers, according to Telkom’s 2019 annual report. The company counts Singapore Telecommunications Ltd. as a minority shareholder.Gojek has streamlined its core businesses to focus on digital payments, transport and food delivery in Indonesia, in a bid to move toward profitability. The startup is backed by some of the world’s largest technology companies including Google, Tencent Holdings Ltd., Facebook Inc. and PayPal Holdings Inc.Its arch-rival Grab Holdings Inc. has recently come under pressure from SoftBank Group Corp., its biggest investor, to work out a ceasefire with Gojek, and the two companies are in regular contact, Bloomberg News has reported.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.