Report
Pierre François Merveille

Softbank Group : Alibaba’s cave

SoftBank Group (SBG) maintains an aggressive financial policy with heavy investments and shareholder distributions. The group will make pre-investments in tech companies despite the postponement of the launch of its second Vision fund and it plans to complete two share buyback programmes of ¥ 2.5tn in aggregate over 16 months. - On the positive side, we consider that the LTV ratio should remain under control and below the group’s internal limit of 25% thanks to the resilience of Al...
Underlying
SoftBank Group Corp.

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.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Pierre François Merveille

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