Softbank Result in Line; FVE Raised to JPY 7,500 Due to Increased Alibaba Value
Softbank reported in line third-quarter fiscal 2016 (quarter ending December 2016) results with revenue down 0.6%, operating profit up 71% and net income up 285%, compared with negative 0.2%, positive 3.5% and 80% rises in the first half respectively. No management guidance was provided for fiscal 2016 and we broadly maintain our existing forecasts with our fair value estimate growing to JPY 7,500 per share from JPY 6,800 per share due mainly to our increased fair value of Alibaba. Our narrow mo...SoftBank Group is a holding company. Domestic Telecommunications business provides mobile communication services, mobile devices, broadband services to retail customers, and telecom services to corporate customers in Japan. Sprint business provides mobile communication services and fixed-line telecommunication services in the U.S. Yahoo Japan business operates Internet-based advertising and e-commerce business. Distribution business distributes mobile devices overseas, and sells software and mobile device accessories in Japan. ARM business designs microprocessor intellectual property and related technology. SoftBank Vision Fund & Delta Fund business is engaged in the investment activities.
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