New Street Research - SoftBank Corp. (9434) New Street: SoftBank Corp (Buy, TP: ¥1,975, +23%) Feedback from small group call with IR

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New Street Research

Chris Hoare

New Street: SoftBank Corp (Buy, TP: ¥1,975, +23%) Feedback from small group call with IR

We hosted a small group call this week with IR at SoftBank Corp, and despite the recent rally remain optimistic about the potential for the company to drive growth as it transforms itself from a telco to a tech/internet company.

10/09/2021 4 EN

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SoftBank Corp.

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JP3732000009 Japan

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
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Pan European Telecom Services and Cable

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Chris Hoare

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New Street: SoftBank Corp (Buy, TP: ¥1,975, +23%) Feedback from small group call with IR

Tariffs: Smartphones, PC, semicap equipment, and others excluded - Our take

Getting over Tariffs – Step back. Rethink. Move on.

SoftBank investing $40bn in OpenAI: Our take.

Amazon (AMZN, Buy, $225 target) Inventory pull-forward mitigates tariffs....for now

New DoD proposal on spectrum for carriers

Microsoft 3FQ25: AI re-platforming delivers results. Buy $550 TP.

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