New Street Research - SoftBank Corp. (9434) Softbank Corp (Buy, TP: ¥2,500, +40%) Q1 24 Quick Take: Tracking strongly; positive mobile ARPU for the first time since FY19

Report

New Street Research

Chris Hoare

EUR 9547.00 For Business Accounts Only

Softbank Corp (Buy, TP: ¥2,500, +40%) Q1 24 Quick Take: Tracking strongly; positive mobile ARPU for the first time since FY19

Topline beat estimates by 3%, underpinned by the outperformance from Enterprise and Distribution. For the first time since FY19, mobile ARPU has inflected to growth (+0.3%) with continued momentum in mobile service revenue. Both operating profit and bottom line are now tracking ahead of the full year’s guidance.

06/08/2024 1 EN

Underlying

SoftBank Corp.

See profile

JP3732000009 Japan

Provider

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
Asian Internet
Pan European Healthcare
Global healthcare thematic research

We provide debt research on:

Pan European Telecom Services and Cable

See profile

Analysts

Chris Hoare

Other Reports on these Companies

New Street Research

Japanese Telcos Q2 FY24 review: Stable growth with better profitability; NTT still preferred pick

Service revenue slowed for the incumbents but stayed in the low-single digit band, with Softbank still ahead followed by NTT. Mobile divergence continues to play out with SB leading the pack and is likely to remain so in our view. Industry EBITDA improved as NTT inflected to growth and led to a strong EBIT beat this quarter.

EUR 9547.00

23h / 17m 23h / 17m 1 EN

New Street Research

Softbank Corp (Buy, TP: ¥270, +40%) Q2 24 Quick Take: Beat across the board and an upgraded guidance

Softbank printed a strong beat across its revenue and net profit, ahead by 5% and 6% respectively. Consequently, management raised its FY24 guidance by roughly 2% for Revenue, EBITDA and Net profit while EBIT was raised by 5.6%.

EUR 9547.00

November 8, 2024 November 8, 2024 1 EN

Pelham Smithers Associates Ltd

PSA Strategy: Japan Stock Market Quarterly 2024 Q4

When the BoJ raised rates in March, it had been 17 years since it had last done so, though the world was very different then. While the July rate hike was unlikely to move the economic needle, the question now is what else might follow the subsequent financial market maelstrom. Pelham Smithers discusses the outlook for Japan’s macro environment, what new fiscal policies the new PM might introduce, how the BoJ might react and the all-important trend in corporate earnings. This then leads us to consider our strategy for sector / stock selection and the changes to our updated Focus Lists.

September 30, 2024 September 30, 2024 1 EN

LG Uplus (Buy, TP: KRW 19,000, +71%) New Corporate Value Up Plan, modestly positive

Yesterday, LG Uplus announced its new Corporate Value Up plan, in conjunction with the appointment of a new CEO in 2025, Hong Bum-Sik who is the company’s current head of corporate strategy. We think the plan is modestly positive but not as transformational as KT’s. Our brief thoughts below.

EUR 9547.00

2h / 45m 2h / 45m 1 EN

Jin Yoon

Jin Yoon

BEKE 3Q24 Results: Favorable Policy Measures to Drive Meaningful Sequential Recovery in 4Q

What’s new: KE Holdings’ reported 3Q24 revs that were largely in line with consensus and our expectations. Transaction volume could see meaningful sequential recovery in 4Q mainly driven by favorable policy measures introduced since late Sep. We maintain our PT at USD26. Analysts: Jin Yoon

3h / 22m 3h / 22m 1 EN

Jin Yoon

Jin Yoon

PDD 3Q24 Results: Investments to Drag Near Term Margins

What’s new: PDD’s reported 3Q24 results that were below consensus and our expectations. PDD will continue to invest substantial resources to support high-quality merchants on the platform which may drag margins in the near term. We maintain our PT at USD150. Analysts: Jin Yoon

3h / 23m 3h / 23m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

Softbank Corp (Buy, TP: ¥2,500, +40%) Q1 24 Quick Take: Tracking strongly; positive mobile ARPU for the first time since FY19

Japanese Telcos Q2 FY24 review: Stable growth with better profitability; NTT still preferred pick

Softbank Corp (Buy, TP: ¥270, +40%) Q2 24 Quick Take: Beat across the board and an upgraded guidance

PSA Strategy: Japan Stock Market Quarterly 2024 Q4

LG Uplus (Buy, TP: KRW 19,000, +71%) New Corporate Value Up Plan, modestly positive

BEKE 3Q24 Results: Favorable Policy Measures to Drive Meaningful Sequential Recovery in 4Q

PDD 3Q24 Results: Investments to Drag Near Term Margins

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe