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SoftBank
Ticker: 9984.T
Price: JPY6418.00
Company News
Masayoshi Son has pledged that SoftBank will remain in “crisis mode”, while the company behind the world’s largest investment fund bounced back from a historic loss to post a $12bn quarterly profit.
Instead of reverting back to an aggressive pre-pandemic strategy, the founder of the Japanese technology conglomerate confirmed that securing cash remained his focus, as he considered the sale of United Kingdom chip designer Arm.
SoftBank also announced it would established a new $555m fund using part of Mr Son’s own money to invest in Amazon, Apple, Facebook and other established tech giants.
For the April to June quarter, SoftBank reported a net profit of ¥1.25tn ($12bn) compared with a net loss of ¥1.4tn in the previous quarter. That was above analysts’ forecasts for a net profit of ¥750bn, according to S&P global Market Intelligence.
Profits were boosted mainly by the partial sale of its stake in the new combined mobile company consisting of its United States unit Sprint and larger rival T-Mobile. A global tech rally additionally lifted high-profile Vision Fund investments including Uber and Slack.
The recovery caps one of Mr Son’s most disruptive periods at SoftBank, which was forced to embark on a $41bn asset sale programme to fund share buybacks and reduce debt against the backdrop of the coronavirus pandemic.
The $100bn Vision Fund, that suffered an $18bn blow in the previous quarter, eked out an investment gain of $2.8bn. That was because of a buoyant United States securities market with shares in ride-sharing group Uber and workplace messaging app Slack rising 11 per cent and 16 per cent, respectively, during the three months.
The Vision Fund’s fortunes have also benefited from robust initial public offerings in the United States market. Its $300m investment in oncology drug developer Relay therapeutics is currently worth over $1bn following its July listing.
Of its 86 investments, the value of 29 of its holdings has risen while 48 others are marked down, leading to cumulative gross gains of $2bn since the Vision Fund was launched in May 2017.
Business Summary
SoftBank Group Corp. is a Japan-based company principally engaged in the communication and Internet related business.
The Company operates in six business segments. Softbank segment is involved in the sale of mobile terminals, the provision of mobile communication services and fixed communication services in Japan.
The Segment also sells mobile terminal accessories, PC software and peripherals.
Sprint segment is involved in the provision of mobile communication services and others in the US.
Yahoo segment conducts advertising business on the Internet, e-commerce business and membership service business.
ARM segment is involved in the design of IP and related technologies for microprocessors, and the sale of software tools. Softbank Vision Fund and Delta Fund segment conducts investment activities in the technology area.
Bright Star segment conducts distribution of mobile terminals overseas. The Company is also involved in Fortress and Fukuoka Softbank Hawks related business.
Price Performance
Relative Valuation
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 6,896.90.
The projected lower bound is: 6,009.38.
The projected closing price is: 6,453.14.
Candlesticks
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.
Momentum Indicators
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
Stochastic Oscillator
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 25.2812. This is not an overbought or oversold reading. The last signal was a buy 0 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 52.57. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 8 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -89. This is not a topping or bottoming area. The last signal was a buy 0 period(s) ago.
MACD
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 5 period(s) ago.
Rex Takasugi – TD Profile
SOFTBANK GROUP closed up 233.000 at 6,425.000. Volume was 42% below average (neutral) and Bollinger Bands were 29% narrower than normal.
Open High Low Close Volume 6,336.000 6,448.000 6,304.000 6,425.000 15,775,300
Technical Outlook Short Term: Neutral Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 6,594.60 5,925.88 4,846.93 Volatility: 59 47 71 Volume: 21,255,890 24,701,908 23,466,458
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
Summary
SOFTBANK GROUP is currently 32.6% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods.
Our volume indicators reflect volume flowing into and out of 9984.T at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on 9984.T and have had this outlook for the last 51 periods.
SoftBank (9984.T) Bounces Back After Historic Loss In The First Quarter To Post A $12bn Quarterly Profit added by HEFFX on
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