Society

SoftBank aims to raise $22bn from mobile unit IPO

Jul 10 (Nikkei) - SoftBank Group has filed for the listing of its mobile service unit SoftBank Corp., in an apparent bid to raise about 2.5 trillion yen ($22.6 billion) from the stock debut.

The parent said Monday that a preliminary application has been submitted to the Tokyo Stock Exchange. The group's core telecom business is expected to debut on the bourse's first section as early as this year. Owning almost all of the unit, SoftBank Group appears to be aiming to sell more than 30% of the shares in the initial public offering.

This could be the largest-ever IPO in Japan, surpassing the 1987 debut of Nippon Telegraph and Telephone, which raised around 2.33 trillion yen, if investor demand is strong.

The market capitalization of the mobile service company is estimated at around 7 trillion to 8 trillion yen, similar in scale to its main rivals -- NTT Docomo and KDDI -- which have have market capitalizations of 10.7 trillion yen and 7.8 trillion yen.

SoftBank Group generated around 1.3 trillion yen in operating profit in the year ended March. The domestic telecom business accounted for 680 billion yen of the total, with an annual cash flow in the 500-billion-yen range.

Ishiba Announces New Cabinet Lineup

New Liberal Democratic Party (LDP) President Ishiba is moving forward with personnel appointments, aiming to appoint former Defense Minister Iwaya as the new Foreign Minister.

Hakamada Case Ends With Acquittal After 58 Years

The Hakamada case, a decades-long legal struggle, ended with an acquittal for Iwao Hakamada (88), who, along with his sister Hideko, fought for 58 years. Hakamada was suspected of the 1966 murder of a miso company executive’s family.

Japan launches information-gathering satellite on H2A rocket

A Japanese government information-gathering satellite has successfully been put into a planned orbit around Earth. (NHK)

New Red Lights for Japan's Police Cars

Japan's National Police Agency is introducing new patrol cars equipped with red lights designed to assist people with hearing impairments, flashing differently depending on whether the vehicle is on an emergency run or a routine patrol.

Over 300 New Geoglyphs Discovered by Yamagata University in Nazca

Yamagata University, which has been conducting research on the Nazca geoglyphs in Peru, announced the discovery of over 300 new geoglyphs, depicting a variety of subjects, including humans and animals.

MEDIA CHANNELS

MORE Society NEWS

Australia nabs four Japanese for smuggling cigarettes

Four Japanese men have been caught at an Australian airport on suspicion of trying to smuggle a large amount of cigarettes into the country. (NHK)

New Red Lights for Japan's Police Cars

Former 'Breaking Down' Representative Arrested in Fake Investment Scheme

The former representative of the martial arts event company 'Breaking Down,' Yugo Itagaki, along with two other individuals, has been arrested by the Tokyo Metropolitan Police on charges of defrauding a company executive out of 80 million yen.

Woman in Floral Mini-Skirt Targets Zoo Outlets with Mysterious Tape

Strange incidents involving a woman placing black tape on outlets have been occurring around zoos in the Izu area of Shizuoka Prefecture.

Japanese Households with Buddhist Altars Has Drastically Decreased

As the number of households with Buddhist altars continues to decline, largely due to space limitations in modern housing, wholesalers of Buddhist goods are struggling with unsold inventory.

Twelve Referred to Prosecutors for Alleged Abuse at Kuwana Festival Horse Event

Twelve individuals involved in the traditional 'Ageuma Shinji' horse event held last year at Tado Shrine in Kuwana City, Mie Prefecture, have been referred to prosecutors on allegations of violent behavior toward horses, including forcing them up steep slopes.

Man Attacks Female Student to Steal Phone

A 39-year-old man has been arrested on suspicion of attacking a female university student by covering her head with a bag and attempting to strangle her.

Video of Penguins Chasing Butterfly Goes Viral

A group of Humboldt penguins at Tokuyama Zoo in Yamaguchi Prefecture has captured people's hearts, as they chase a butterfly that had accidentally flown into their pool enclosure.

< 2 3 4 5 >