Japan’s SoftBank to replace Huawei equipment, Nikkei reports

Japanese mobile carrier SoftBank will be replacing its hardware from Chinese tech giant Huawei in its 4G telecommunications network infrastructure over the next few years — and will instead be using equipment from Ericsson and Nokia, Nikkei Asian Review reported on Thursday. SoftBank is also expected to place orders with the two European companies for its 5G networks, Nikkei reported. SoftBank is the only telecom carrier in Japan that uses Huawei equipment, according to the news outlet. The 5G n


Japanese mobile carrier SoftBank will be replacing its hardware from Chinese tech giant Huawei in its 4G telecommunications network infrastructure over the next few years — and will instead be using equipment from Ericsson and Nokia, Nikkei Asian Review reported on Thursday. SoftBank is also expected to place orders with the two European companies for its 5G networks, Nikkei reported. SoftBank is the only telecom carrier in Japan that uses Huawei equipment, according to the news outlet. The 5G n
Japan’s SoftBank to replace Huawei equipment, Nikkei reports Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: huileng tan, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, softbank, replace, reports, japans, network, huawei, telecommunications, using, reported, 5g, nikkei, carrier, equipment


Japan's SoftBank to replace Huawei equipment, Nikkei reports

Japanese mobile carrier SoftBank will be replacing its hardware from Chinese tech giant Huawei in its 4G telecommunications network infrastructure over the next few years — and will instead be using equipment from Ericsson and Nokia, Nikkei Asian Review reported on Thursday.

SoftBank is also expected to place orders with the two European companies for its 5G networks, Nikkei reported. SoftBank is the only telecom carrier in Japan that uses Huawei equipment, according to the news outlet.

The 5G network is the next telecommunications standard that facilitates quicker transfer of data, and allows more devices to connect to the internet.


Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: huileng tan, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, softbank, replace, reports, japans, network, huawei, telecommunications, using, reported, 5g, nikkei, carrier, equipment


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SoftBank’s record IPO reaches $23.5 bln after extra share sale

SoftBank Group Corp is set to raise 2.65 trillion yen ($23.5 billion) in Japan’s biggest-ever IPO – a share sale widely regarded as finalising the group’s transition from domestic telco to a monolithic global tech investor. Telco unit SoftBank Corp on Monday priced its stock at 1,500 yen apiece, as previously indicated. It also said it will sell all extra shares set aside for excess demand, taking the total just shy of the record $25 billion raised in 2014 by Chinese e-commerce giant Alibaba Gro


SoftBank Group Corp is set to raise 2.65 trillion yen ($23.5 billion) in Japan’s biggest-ever IPO – a share sale widely regarded as finalising the group’s transition from domestic telco to a monolithic global tech investor. Telco unit SoftBank Corp on Monday priced its stock at 1,500 yen apiece, as previously indicated. It also said it will sell all extra shares set aside for excess demand, taking the total just shy of the record $25 billion raised in 2014 by Chinese e-commerce giant Alibaba Gro
SoftBank’s record IPO reaches $23.5 bln after extra share sale Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, group, stock, shares, sale, corp, share, billion, tech, extra, yen, set, giant, 235, reaches, record, softbanks, bln, softbank, ipo


SoftBank's record IPO reaches $23.5 bln after extra share sale

SoftBank Group Corp is set to raise 2.65 trillion yen ($23.5 billion) in Japan’s biggest-ever IPO – a share sale widely regarded as finalising the group’s transition from domestic telco to a monolithic global tech investor.

Telco unit SoftBank Corp on Monday priced its stock at 1,500 yen apiece, as previously indicated.

It also said it will sell all extra shares set aside for excess demand, taking the total just shy of the record $25 billion raised in 2014 by Chinese e-commerce giant Alibaba Group Holding Ltd, a SoftBank Group portfolio company.

The group, which controls the world’s biggest tech private equity fund at nearly $100 billion, will use the proceeds to invest in startups which have ranged from tiny games makers to U.S. ride-hailing giant Uber Technologies Inc.

“Demand was well above the number of shares on offer,” SoftBank Corp said, declining to disclose by how much.

The stock will debut on the Tokyo Stock Exchange’s first section on Dec. 19.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, group, stock, shares, sale, corp, share, billion, tech, extra, yen, set, giant, 235, reaches, record, softbanks, bln, softbank, ipo


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Japan’s top three telcos to shun Huawei, ZTE network equipment: Kyodo

Last week sources told Reuters that Japan planned to ban government purchases of equipment from Huawei and ZTE to ensure strength in its defences against intelligence leaks and cyber attacks. A SoftBank Group Corp spokesman said Japan’s third-largest telco was closely watching government policy and is continuing to consider its options. Docomo does not use Huawei or ZTE network equipment, but it has partnered with Huawei on 5G trials. KDDI also does not use Huawei equipment in its “core” network


Last week sources told Reuters that Japan planned to ban government purchases of equipment from Huawei and ZTE to ensure strength in its defences against intelligence leaks and cyber attacks. A SoftBank Group Corp spokesman said Japan’s third-largest telco was closely watching government policy and is continuing to consider its options. Docomo does not use Huawei or ZTE network equipment, but it has partnered with Huawei on 5G trials. KDDI also does not use Huawei equipment in its “core” network
Japan’s top three telcos to shun Huawei, ZTE network equipment: Kyodo Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: johannes eisele, afp, getty images
Keywords: news, cnbc, companies, telcos, shun, softbank, kyodo, does, zte, huawei, japans, network, kddi, japanese, equipment, financial


Japan's top three telcos to shun Huawei, ZTE network equipment: Kyodo

Last week sources told Reuters that Japan planned to ban government purchases of equipment from Huawei and ZTE to ensure strength in its defences against intelligence leaks and cyber attacks.

A SoftBank Group Corp spokesman said Japan’s third-largest telco was closely watching government policy and is continuing to consider its options. The amount of equipment in use from Chinese makers “is relatively small”, he said.

The country’s top two telecommunications operators, NTT Docomo Inc and KDDI Corp, said the firms had not made any decision yet.

Docomo does not use Huawei or ZTE network equipment, but it has partnered with Huawei on 5G trials. KDDI also does not use Huawei equipment in its “core” network, a spokeswoman said, adding it does not use any ZTE network equipment.

Huawei did not respond to Reuters request for comment, while ZTE declined to comment.

Huawei has already been locked out of the U.S. market, and Australia and New Zealand have blocked it from building 5G networks amid concerns of its possible links with China’s government. Huawei has said Beijing has no influence over it.

Japan’s decision to keep it out would be another setback for Huawei, whose chief financial officer was recently arrested by Canadian officials for extradition to the United States.

World financial markets have been roiled since news of the arrest, on worries it could reignite a Sino-U.S. trade row that was only just showing signs of easing.

Shares of SoftBank, which has the deepest relationship with Huawei among the big Japanese telcos, fell the most among the three top Japanese telcos on Monday, ending down 3.5 percent.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: johannes eisele, afp, getty images
Keywords: news, cnbc, companies, telcos, shun, softbank, kyodo, does, zte, huawei, japans, network, kddi, japanese, equipment, financial


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Huawei CFO arrest hits Asian tech stocks hard; broader markets sell-off as global rout continues

Technology stocks across the region were under pressure, including many Huawei partners and suppliers. Taiwan’s major tech names also struggled: Catcher Technology fell 9.89 percent, Taiwan Semiconductor was down 2.65 percent, Largan Precision lost 9.94 percent and iPhone assembler Hon Hai dropped 3.63 percent. “Huawei equipment is more widely used (than ZTE is) by carriers around the world, including in Europe and Africa,” they said. ZTE shares listed in Hong Kong were down 5.94 percent on the


Technology stocks across the region were under pressure, including many Huawei partners and suppliers. Taiwan’s major tech names also struggled: Catcher Technology fell 9.89 percent, Taiwan Semiconductor was down 2.65 percent, Largan Precision lost 9.94 percent and iPhone assembler Hon Hai dropped 3.63 percent. “Huawei equipment is more widely used (than ZTE is) by carriers around the world, including in Europe and Africa,” they said. ZTE shares listed in Hong Kong were down 5.94 percent on the
Huawei CFO arrest hits Asian tech stocks hard; broader markets sell-off as global rout continues Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: saheli roy choudhury, eustance huang, miguel candela, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, rout, continues, shares, stocks, fell, markets, hits, equipment, technology, major, tech, softbank, represents, selloff, hard, huawei, global, zte


Huawei CFO arrest hits Asian tech stocks hard; broader markets sell-off as global rout continues

Technology stocks across the region were under pressure, including many Huawei partners and suppliers.

Chipmaker Samsung tumbled 2.29 percent, Sunny Optical, which makes some of the lenses for Huawei phones, fell 5.47 percent and AAC Technologies declined 5.59 percent on the day. Chinasoft International, where Huawei is a strategic shareholder, dropped 11.71 percent.

Shares of Nikkei heavyweight SoftBank Group fell 4.93 percent. Last year, SoftBank and Huawei jointly demonstrated potential use of the next generation of high-speed mobile internet; SoftBank is taking its mobile unit public on Dec. 19.

The negative sentiment rippled through the broader Japanese tech sector, with shares of Tokyo Electron down 4.54 percent, Advantest falling 5.30 percent and TDK Corp dropping 6.64 percent.

Taiwan’s major tech names also struggled: Catcher Technology fell 9.89 percent, Taiwan Semiconductor was down 2.65 percent, Largan Precision lost 9.94 percent and iPhone assembler Hon Hai dropped 3.63 percent. Asia’s Apple suppliers, in general, saw Thursday declines.

Analysts at Jefferies pointed out that Huawei has a major global presence in various technology areas such as telecommunications equipment, semiconductors, smartphones and cloud computing. It also represents a major growth driver for many tech manufacturers.

Huawei’s Meng, who is the daughter of the company’s founder, faces extradition to the U.S., according to Canada’s Department of Justice.

While the arrest represents a new escalation in American efforts to hold Chinese companies accountable for violation of U.S. laws, it is likely to elicit an angry reaction from Beijing, according to Eurasia Group.

“The investigation of Huawei could be a prelude to further action against the firm and its senior officials,” the Eurasia Group analysts said, adding that if the U.S. places a sudden ban on Huawei equipment, like it did with ZTE, the impact would be much greater.

“Huawei equipment is more widely used (than ZTE is) by carriers around the world, including in Europe and Africa,” they said.

ZTE shares listed in Hong Kong were down 5.94 percent on the day.

Both Huawei and ZTE are restricted from selling telecoms equipment in the U.S. due to what the U.S. describes as national security concerns.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: saheli roy choudhury, eustance huang, miguel candela, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, rout, continues, shares, stocks, fell, markets, hits, equipment, technology, major, tech, softbank, represents, selloff, hard, huawei, global, zte


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SoftBank’s Vision Fund is said to plan hiring of China team, mainland office

The SoftBank-led Vision Fund is hiring an investment team to be based in China as the $100 billion investment giant expands in one of the world’s most vibrant tech markets, two people with direct knowledge of the move told Reuters. The Vision Fund plans to open its first China office in Shanghai next year, followed by Beijing and Hong Kong. In a statement at the time, SoftBank said the fund was targeting a total of $100 billion within six months. Chen joined SoftBank Investment Advisers, which o


The SoftBank-led Vision Fund is hiring an investment team to be based in China as the $100 billion investment giant expands in one of the world’s most vibrant tech markets, two people with direct knowledge of the move told Reuters. The Vision Fund plans to open its first China office in Shanghai next year, followed by Beijing and Hong Kong. In a statement at the time, SoftBank said the fund was targeting a total of $100 billion within six months. Chen joined SoftBank Investment Advisers, which o
SoftBank’s Vision Fund is said to plan hiring of China team, mainland office Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: tomohiro ohsumi, getty images news, getty images
Keywords: news, cnbc, companies, billion, china, invested, wealth, mainland, team, office, softbank, softbanks, technology, investment, working, hiring, vision, fund, plan


SoftBank's Vision Fund is said to plan hiring of China team, mainland office

The SoftBank-led Vision Fund is hiring an investment team to be based in China as the $100 billion investment giant expands in one of the world’s most vibrant tech markets, two people with direct knowledge of the move told Reuters.

The Vision Fund plans to open its first China office in Shanghai next year, followed by Beijing and Hong Kong.

Altogether it hopes to hire about 20 people, said the people, who declined to be named as the information was confidential.

The Vision Fund raised more than $93 billion at its first close last May with investors including the sovereign wealth funds of Saudi Arabia and Abu Dhabi, Apple and Hon Hai Precision Industry (Foxconn).

In a statement at the time, SoftBank said the fund was targeting a total of $100 billion within six months.

Earlier this year, the fund hired Eric Chen, who last worked as a Hong Kong-based managing director at private equity firm Silver Lake before setting up his own venture, to head its upcoming China team, the people added.

Chen joined SoftBank Investment Advisers, which oversees Vision Fund, as a partner in March and is based in San Francisco, according to his LinkedIn profile and confirmation from the people. He could not be reached for comment.

A SoftBank spokesman declined to comment. Already this year the Vision Fund has moved to open offices in India, where it has spent $5 billion betting on the future of technology, and Saudi Arabia, home to its biggest backer – sovereign wealth fund PIF.

The openings come as the fund must manage its sprawling web of portfolio companies covering everything from shared working space to insurance and healthcare.

SoftBank is no stranger in China. Founder Masayoshi Son was an early backer of e-commerce giant Alibaba Group in 2000. Since 2013, SoftBank has invested over $13 billion in Chinese companies such as ride-hailing champion Didi Chuxing.

The Vision Fund has made five investments in China, according to Refinitiv data.

Since its first close on May 17 last year, the Vision Fund has invested in truck-hailing company Man Bang, Ping An Healthcare and Technology, a one-stop healthcare platform backed by Ping An Insurance, and most recently Beijing Bytedance Technology, China’s largest media start-up managing news aggregator Toutiao and online short-video streaming app TikTok, the data showed.

Bytedance is valued at $75 billion in its latest fundraising, Reuters has reported.

The fund has also invested $500 million in the Chinese unit of U.S.-based shared working space provider WeWork Cos in July, as part of its support for WeWork’s global push.


Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: tomohiro ohsumi, getty images news, getty images
Keywords: news, cnbc, companies, billion, china, invested, wealth, mainland, team, office, softbank, softbanks, technology, investment, working, hiring, vision, fund, plan


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SoftBank sets indicative IPO price for mobile unit

SoftBank chalked up another first in Japan on Friday, setting a single indicative price of 1,500 yen for its telco IPO rather than the usual range, pegging the share sale at 2.4 trillion yen ($21.16 billion) in the country’s biggest-ever listing. The price was unchanged from the estimate that SoftBank Corp, the domestic telecommunications subsidiary of Japan’s SoftBank Group Corp, announced when it launched the initial public offering (IPO) earlier this month. The IPO is aimed at providing the g


SoftBank chalked up another first in Japan on Friday, setting a single indicative price of 1,500 yen for its telco IPO rather than the usual range, pegging the share sale at 2.4 trillion yen ($21.16 billion) in the country’s biggest-ever listing. The price was unchanged from the estimate that SoftBank Corp, the domestic telecommunications subsidiary of Japan’s SoftBank Group Corp, announced when it launched the initial public offering (IPO) earlier this month. The IPO is aimed at providing the g
SoftBank sets indicative IPO price for mobile unit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: tomohiro ohsumi, getty images
Keywords: news, cnbc, companies, indicative, unchanged, estimate, yen, unit, group, ipo, softbank, sale, corp, mobile, price, usual, sets


SoftBank sets indicative IPO price for mobile unit

SoftBank chalked up another first in Japan on Friday, setting a single indicative price of 1,500 yen for its telco IPO rather than the usual range, pegging the share sale at 2.4 trillion yen ($21.16 billion) in the country’s biggest-ever listing.

The price was unchanged from the estimate that SoftBank Corp, the domestic telecommunications subsidiary of Japan’s SoftBank Group Corp, announced when it launched the initial public offering (IPO) earlier this month.

The IPO is aimed at providing the group with funds to pay down debt and place big bets on innovations that Chief Executive Masayoshi Son predicts will drive future tech trends.

Reasons for sticking with the first estimate were not immediately clear. Brokerages initially expressed concern over whether there would be sufficient demand for the IPO given the size of the sale but have since reported strong interest.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: tomohiro ohsumi, getty images
Keywords: news, cnbc, companies, indicative, unchanged, estimate, yen, unit, group, ipo, softbank, sale, corp, mobile, price, usual, sets


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SoftBank’s mobile unit launches $21 billion IPO

SoftBank Group’s domestic telecoms unit on Monday received approval to list on the Tokyo Stock Exchange in an initial public offering (IPO) worth 2.4 trillion yen ($21.04 billion), a regulatory filing showed, one of the biggest IPOs ever. The unit, SoftBank Corp, will list on the Tokyo Stock Exchange on Dec. 19, the filing with the Ministry of Finance showed on Monday. On sale is 1.6 billion SoftBank Corp shares at an tentative price of 1,500 yen each, raising 2.4 trillion yen and resulting in a


SoftBank Group’s domestic telecoms unit on Monday received approval to list on the Tokyo Stock Exchange in an initial public offering (IPO) worth 2.4 trillion yen ($21.04 billion), a regulatory filing showed, one of the biggest IPOs ever. The unit, SoftBank Corp, will list on the Tokyo Stock Exchange on Dec. 19, the filing with the Ministry of Finance showed on Monday. On sale is 1.6 billion SoftBank Corp shares at an tentative price of 1,500 yen each, raising 2.4 trillion yen and resulting in a
SoftBank’s mobile unit launches $21 billion IPO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: kiyoshi ota, bloomberg, getty images
Keywords: news, cnbc, companies, ipo, launches, worth, softbank, softbanks, unit, billion, yen, trillion, stock, tokyo, 21, mobile, shares


SoftBank's mobile unit launches $21 billion IPO

SoftBank Group’s domestic telecoms unit on Monday received approval to list on the Tokyo Stock Exchange in an initial public offering (IPO) worth 2.4 trillion yen ($21.04 billion), a regulatory filing showed, one of the biggest IPOs ever.

The unit, SoftBank Corp, will list on the Tokyo Stock Exchange on Dec. 19, the filing with the Ministry of Finance showed on Monday.

The IPO will mark the transformation of the parent company from a mobile phone network provider — which successfully challenged Japan’s incumbent duopoly — into one of the world’s biggest technology investors under Chief Executive Masayoshi Son.

The offering will also provide the group with funds that can be redeployed into more tech investments. SoftBank’s bets have been as varied as small gaming startups, ride-hailing firms such as California-based Uber Technologies, and Chinese e-commerce behemoth Alibaba Group.

On sale is 1.6 billion SoftBank Corp shares at an tentative price of 1,500 yen each, raising 2.4 trillion yen and resulting in a market value of 7.18 trillion yen upon listing. The parent will retain a 66.5 percent stake in the newly listed unit.

Additionally, up to 160 million shares worth 240.6 billion yen will be offered in an overallotment if demand is strong. In that case, the total would come close to the $25 billion worth of shares sold by Alibaba in 2014 in the biggest-ever IPO.

The final IPO price will be determined on Dec. 10.


Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: kiyoshi ota, bloomberg, getty images
Keywords: news, cnbc, companies, ipo, launches, worth, softbank, softbanks, unit, billion, yen, trillion, stock, tokyo, 21, mobile, shares


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Japan’s SoftBank reports profit surge on Vision Fund strength

Japan’s SoftBank Group Corp on Monday reported a surge in second-quarter profit, helped by higher valuations on high-tech bets just as doubts grow over the firm’s dependence on Saudi Arabia funds. SoftBank’s July-September operating profit rose to 705.7 billion yen ($6.23 billion) compared with 395.6 billion yen a year earlier. The year-earlier figure used previous accounting standards. SoftBank and its Saudi Arabia-backed Vision Fund — which after raising more than $93 billion last year is the


Japan’s SoftBank Group Corp on Monday reported a surge in second-quarter profit, helped by higher valuations on high-tech bets just as doubts grow over the firm’s dependence on Saudi Arabia funds. SoftBank’s July-September operating profit rose to 705.7 billion yen ($6.23 billion) compared with 395.6 billion yen a year earlier. The year-earlier figure used previous accounting standards. SoftBank and its Saudi Arabia-backed Vision Fund — which after raising more than $93 billion last year is the
Japan’s SoftBank reports profit surge on Vision Fund strength Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, softbank, higher, hightech, arabia, bets, reports, profit, japans, fund, strength, saudi, yen, valuations, billion, surge, vision


Japan's SoftBank reports profit surge on Vision Fund strength

Japan’s SoftBank Group Corp on Monday reported a surge in second-quarter profit, helped by higher valuations on high-tech bets just as doubts grow over the firm’s dependence on Saudi Arabia funds.

SoftBank’s July-September operating profit rose to 705.7 billion yen ($6.23 billion) compared with 395.6 billion yen a year earlier. The year-earlier figure used previous accounting standards.

SoftBank and its Saudi Arabia-backed Vision Fund — which after raising more than $93 billion last year is the world’s largest private equity fund — is recording higher valuations on high-tech bets such as on ride-hailing firm Uber Technologies Inc and General Motors Co’s Cruise self-driving vehicle unit.

For investors, however, SoftBank’s ties to Saudi Arabia have become a source of unease since the murder of Saudi journalist Jamal Khashoggi.


Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, softbank, higher, hightech, arabia, bets, reports, profit, japans, fund, strength, saudi, yen, valuations, billion, surge, vision


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SoftBank CEO says Khashoggi killing may have some impact on Saudi-backed Vision Fund

SoftBank’s chief executive broke his silence over the killing of Saudi journalist Jamal Khashoggi on Monday, saying the incident could have some impact on the firm’s $100 billion Vision Fund. The Japanese tech investment giant has poured billions into start-ups in Silicon Valley and around the world through this investment fund. The fund is anchored by Saudi money, with the country’s sovereign Public Investment Fund (PIF) contributing $45 billion. SoftBank on Monday said that its July-September


SoftBank’s chief executive broke his silence over the killing of Saudi journalist Jamal Khashoggi on Monday, saying the incident could have some impact on the firm’s $100 billion Vision Fund. The Japanese tech investment giant has poured billions into start-ups in Silicon Valley and around the world through this investment fund. The fund is anchored by Saudi money, with the country’s sovereign Public Investment Fund (PIF) contributing $45 billion. SoftBank on Monday said that its July-September
SoftBank CEO says Khashoggi killing may have some impact on Saudi-backed Vision Fund Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: ryan browne, alessandro di ciommo, nurphoto, getty images
Keywords: news, cnbc, companies, killing, saying, vision, investment, fund, softbank, impact, saudi, billion, saudibacked, yen, tech, son, ceo, khashoggi, softbanks


SoftBank CEO says Khashoggi killing may have some impact on Saudi-backed Vision Fund

SoftBank’s chief executive broke his silence over the killing of Saudi journalist Jamal Khashoggi on Monday, saying the incident could have some impact on the firm’s $100 billion Vision Fund.

The Japanese tech investment giant has poured billions into start-ups in Silicon Valley and around the world through this investment fund. The fund is anchored by Saudi money, with the country’s sovereign Public Investment Fund (PIF) contributing $45 billion.

“We don’t yet know the clear understanding of the case so we would like to be careful watching the outcome,” SoftBank’s Masayoshi Son said via a translator at an investor briefing following the release of the company’s second-quarter results Monday.

Son said he had not heard of any companies saying they would not want to accept investments from the Vision Fund due to its relationship with Saudi Arabia’s PIF, however he said that “there may be some impact” on the fund’s investments.

SoftBank on Monday said that its July-September operating profit rose to 705.7 billion Japanese yen ($6.23 billion), an almost 80 percent jump from the 395.6 billion yen profit it reported in the previous year. Its bumper revenues have been helped by higher valuations on the bets it has made on tech companies.

Son said he had met with Saudi Crown Prince Mohammed bin Salman to raise his concerns about the incident. When asked by a reporter about what he had told him, Son replied the crown prince had said: “This was not something which should have happened.”

SoftBank’s boss declined to attend a major business conference in Saudi Arabia, the Future Investment Initiative, last month, but he said that he did visit the country to meet with officials and raise his concerns about Khashoggi’s death.


Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: ryan browne, alessandro di ciommo, nurphoto, getty images
Keywords: news, cnbc, companies, killing, saying, vision, investment, fund, softbank, impact, saudi, billion, saudibacked, yen, tech, son, ceo, khashoggi, softbanks


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Robot pizza maker reportedly takes $375 million investment from SoftBank

Robots take on pizza at Silicon Valley startup 4:04 PM ET Tue, 14 March 2017 | 01:25Zume Pizza, a start-up that uses robots to make pizza, has reportedly received $375 million of backing from the tech investment firm SoftBank. The WSJ report added that the SoftBank is expected to invest a further $375 million in the company, valuing the pizza delivery company at roughly $2.25 billion. Zume Pizza employs a mix of robots and humans to create and deliver food. Switching the ovens on from the cloud


Robots take on pizza at Silicon Valley startup 4:04 PM ET Tue, 14 March 2017 | 01:25Zume Pizza, a start-up that uses robots to make pizza, has reportedly received $375 million of backing from the tech investment firm SoftBank. The WSJ report added that the SoftBank is expected to invest a further $375 million in the company, valuing the pizza delivery company at roughly $2.25 billion. Zume Pizza employs a mix of robots and humans to create and deliver food. Switching the ovens on from the cloud
Robot pizza maker reportedly takes $375 million investment from SoftBank Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-02  Authors: david reid
Keywords: news, cnbc, companies, startup, ovens, investment, robots, palo, robot, reportedly, million, company, 375, maker, takes, report, softbank, vision, pizza


Robot pizza maker reportedly takes $375 million investment from SoftBank

Robots take on pizza at Silicon Valley startup 4:04 PM ET Tue, 14 March 2017 | 01:25

Zume Pizza, a start-up that uses robots to make pizza, has reportedly received $375 million of backing from the tech investment firm SoftBank.

The California company announced the cash injection in a securities filing. The investor identity was not revealed in the filing, but the Wall Street Journal has been the first to report that the cash has come out of SoftBank’s Vision Fund.

The Japanese bank’s Vision Fund is worth $100 billion. It is most heavily backed by a $45 billion payment raised from Saudi Arabia’s Public Investment Fund.

The WSJ report added that the SoftBank is expected to invest a further $375 million in the company, valuing the pizza delivery company at roughly $2.25 billion.

Zume Pizza employs a mix of robots and humans to create and deliver food. Robots squirt and spread the tomato sauce onto the uncooked pies and then transfer them into 800-degree ovens

The robots cost between $25,000 and $35,000 each and are made by ABB, a global manufacturer that typically deals with robots for large manufacturing facilities.

The company also plans to run trucks that use remote controlled ovens to fire up the pizzas enroute. Switching the ovens on from the cloud allows the company to bypass rules preventing food preparation in moving vehicles.

The company sold its first pizza in April 2016 and currently delivers to the Californian suburbs of Atherton, Cupertino, Palo Alto, East Palo Alto, Menlo Park, Mountain View, Stanford, Santa Clara, Sunnyvale and Campbell.

At the time of publication, neither SoftBank nor Zume had responded to a CNBC request for comment.


Company: cnbc, Activity: cnbc, Date: 2018-11-02  Authors: david reid
Keywords: news, cnbc, companies, startup, ovens, investment, robots, palo, robot, reportedly, million, company, 375, maker, takes, report, softbank, vision, pizza


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