SoftBank (9984) – Conglomerate or Investment Vehicle?

SoftBank reports 1Q FY17 results on August 7th and we doubt that these will be particularly memorable. Given how well the shares have done, this is a reminder that stock price performance (once again) is being driven by Alibaba (BABA US), rather than by SoftBank’s core businesses. However, whereas in the past SoftBank could look for the likes of the domestic wireless business to play catch-up, that looks increasingly difficult as the 4G wireless market matures. If SoftBank’s stock is not to beco...